Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN: 9781337091992
Author: N. Gregory Mankiw
Publisher: Cengage Learning
Question
Chapter 23.3, Problem 3QQ
To determine

Why Aggregate demand curve slopes downwards.

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Explain the three reasons the aggregate-demand curve slopes downward. Give an example of an event that would shift the aggregate-demand curve . In which direction would this event shift the curve?
12. Explain whether each of the following events shifts the short-run aggregate-supply curve, the aggregate-demand curve, both, or neither. For each event that does shift a curve, draw a diagram to illustrate the effect on the economy. A.) Households decide to save a larger share of their income. B.) Florida orange groves suffer a prolonged period of below-freezing temperatures. C.) Increased job opportunities overseas cause many people to leave the country.
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