-Using the graph above, if economic policy causes aggregate demand curve shifts from AD2 to AD1, then what will happen to the equilibrium level of output and the price level? Explain.
Definitions:
Broad Purpose
A wide-ranging or general aim that an organization or individual seeks to achieve, often encompassing various specific objectives.
Goods
Tangible products that are produced, bought, or sold, thereby contributing to an economy's exchange of value.
Services
Activities or benefits provided by one party to another which are intangible and do not result in ownership.
Employment Patterns
The trends or general tendencies in how people are employed, including permanency, sectors of employment, work hours, and conditions.
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