Discussion Post
Determine whether each of the following would cause a shift of the aggregate demand curve, a shift of the aggregate supply curve, a shift in neither curve, or a shift in both curves. If a shift is caused, indicate which curve shifts, and in which direction it shifts. What happens to aggregate output and the price level in each case?
• The price level changes.
• Consumer confidence increases.
• The supply of resources decreases.
Explain how gross domestic product is calculated using each of the following: the income approach and the expenditure approach.
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.