Identify the price level for this new equilibrium

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In the diagram, the aggregate supply curve is for the year 2000. Sketch an aggregate demand curve that shows the economy at an equilibrium real GDP of $9.8 trillion. Illustrate how a shift of aggregate demand could decrease the equilibrium level of real GDP to $9.5 trillion. Identify the price level for this new equilibrium.

Reference no: EM131228229

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