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Question 1: Provide a real world example of Aggregate supply and demand.

Question 1:

Provide a real world example of Aggregate supply and demand.

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Answer #1

An aggregate demand curve represents the total spending on domestic goods and services at each price .level.Aggregate demand curve shows the negative relationship between price and real GDP.

Aggregate demand example is aggregate demand of goods and services in the economy at a specified price.  

Aggregate Supply curve shows the positive relationship between price and real GDP.

The aggregate supply is the total supply of goods and services that all firms in a economy plan on selling during a specific time period.

The example of aggregate supply is all supply of goods and services at a specified price in the economy.

The intersection of AD and AS curve determines the price level and equilibrium real GDP.

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