Adjust the graph to show the effect of a decrease in the aggregate price level.
Which of the statements offers the best explanation for the change demonstrated in the graph?
a. Prices of goods and services decrease on average.
b. The prices of a few goods in the market dropped substantially.
c. Consumers purchase less of one product, like cars, and more of another, like clothing.
d. The law of demand dictates the behavior of the aggregate demand curve.

Question

chloeroebuck2021 chloeroebuck2021

04-04-2022
Social Studies

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Adjust the graph to show the effect of a decrease in the aggregate price level.
Which of the statements offers the best explanation for the change demonstrated in the graph?
a. Prices of goods and services decrease on average.
b. The prices of a few goods in the market dropped substantially.
c. Consumers purchase less of one product, like cars, and more of another, like clothing.
d. The law of demand dictates the behavior of the aggregate demand curve.

Sagot :

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Tundexi Tundexi · Answer 1 · 2022-04-07T04:13:22-04:00

The effect that a decrease in the aggregate price level will have is that

Prices of goods and services decrease on average

What did the graph depict?

Generally, if there is increase in aggregate demand, there will be an increase in the price level and a decrease in aggregate demand corresponds with a lower price level.

Thus, the statements that offers the best explanation for the change demonstrated in the graph is that prices of goods and services decrease on average.

Therefore, the Option A is correct.

Sagot :

What did the graph depict?

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