Illustrate how a shift of aggregate demand could decrease, Econometrics

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Illustrate how a shift of aggregate demand could decrease

In the diagram, the aggregate supply curve is for the year 2000. Sketch an aggregate demand curve that shows the economy at an equilibrium real GDP of $9.8 trillion. Illustrate how a shift of aggregate demand could decrease the equilibrium level of real GDP to $9.5 trillion. Identify the price level for this new equilibrium.

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Econometrics: Illustrate how a shift of aggregate demand could decrease

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Econometrics: Illustrate how a shift of aggregate demand could decrease

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