(Aggregate Demand and Supply) Determine whether each of the following would cause a shift of the aggregate demand curve, a shift of the aggregate supply curve, neither, or both. Which curve shifts, and in which direction? What happens to aggregate output and the price level in each case.A.) The price level changesB.) Consumer confidence declinesC.) The supply of resources increasesD.) The wage rate increases
(Aggregate Demand and Supply) Determine whether each of the following would cause a shift of theaggregate demand curve, a shift of the aggregate supply curve, neither, or both. Which curve…
