Question

Assuming the short-run aggregate supply curve is upward sloping, an increase in aggregate demand (while short-run aggregate supply remains unchanged) results in a?

Answer 1

Assuming the short-run aggregate supply curve is upward-sloping, a decrease in aggregate demand (while short-run aggregate supply remains unchanged)results in a lower price level, lower output (real GDP), and higher unemployment.

What do you mean by aggregate demand?

• The entire quantity of demand for all completed products and services produced in an economy is measured by aggregate demand.
• The entire amount of money spent on those products and services at a certain price point and period is referred to as aggregate demand.
• Lowering income taxes will leave the government with less money for government expenditure, which will reduce aggregate demand and balance out the rise in consumer spending.

To learn more about the aggregate demand, refer to the following link:

brainly.com/question/24457739

#SPJ4