Question

Suppose the equilibrium aggregate price level and the equilibrium level of real gdp are both rising. this is probably the effect of a(n) _____ in aggregate _____.

Answer 1

This is probably the effect of an increase in aggregate demand.
Aggregate demand is the sum of all the final goods and services that sold within a particular market.When the aggregate demand increased, it will also increase the price and real GDP because you need to include final goods and services to calculate them.