Need help with this, I did two please make sure they are correct. Thanks! 2. Nonprice-level determinants of aggregate demandThe following graph shows an increase in aggregate demand (AD) in a hypothetical country. Specifically, aggregate demand shifts to the right fromAD₁ to AD₂, causing the quantity of output demanded to rise at all price levels. For example, at a price level of 140, output is now $400 billion, wherepreviously it was $300 billion.PRICE LEVEL (CPI)1701601501401301201101009001001II1I1II|I|200 300 400 500REAL GDP (Billions of dollars)AD2AD₁600700800 The following table lists several determinants of aggregate demand.Complete the table by indicating the change in each determinant necessary to increase aggregate demand.Change Needed to Increase ADConsumer ExpectationsGovernment SpendingBusiness OptimismIncomes in Other CountriesIncreaseIncreaseImprove/worsenIncrease/DecreaseRise/FallIncrease/Decrease

Aggregate demand represents the total demand for goods and services in an economy at any given price…

The following table lists several determinants of aggregate demand. Complete the table by indicating the change in each determinant necessary to increase aggregate demand. Change Needed to Increase AD Consumer Expectations Government Spending Business Optimism Incomes in Other Countries Increase Increase Improve/worsen Increase/Decrease Rise/Fall Increase/Decrease

The following table lists several determinants of aggregate demand. Complete the table by indicating the change in each determinant necessary to increase aggregate demand. Change Needed to Increase AD Consumer Expectations Government Spending Business Optimism Incomes in Other Countries Increase Increase Improve/worsen Increase/Decrease Rise/Fall Increase/Decrease

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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