Suppose that you have an AEF at a price level of p = $100 given by: AEF = 1,200+ 0.40Y Suppose also that for every $1 increase in the price level, desired consumtion decreases by $1. Given this, what is the slope of Aggregate Demand (AD) in the AD-AS model? Note: round your answers to three decimal places.

Suppose that you have an AEF at a price level of p = $100 given by: AEF = 1,200+ 0.40Y Suppose also that for every $1 increase in the price level, desired consumtion decreases by $1. Given this, what is the slope of Aggregate Demand (AD) in the AD-AS model? Note: round your answers to three decimal places.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter22: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 1P

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