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Exhibit 5-3 -In Exhibit 5-3 AD1 and AS1 Represent the Initial Aggregate

Question 129

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Exhibit 5-3 Exhibit 5-3 -In Exhibit 5-3 AD<sub>1</sub> and AS<sub>1</sub> represent the initial aggregate demand and aggregate supply.The initial equilibrium is at point A.Suppose that the price level in Europe falls,what will the new equilibrium be? A) A B) B C) C D) D E) E
-In Exhibit 5-3 AD1 and AS1 represent the initial aggregate demand and aggregate supply.The initial equilibrium is at point A.Suppose that the price level in Europe falls,what will the new equilibrium be?


A) A
B) B
C) C
D) D
E) E

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