Higher output with no change in the average price level

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Reference no: EM131095460

1. Draw a graph showing how an increase in aggregate demand could produce a higher output with no change in the average price level.

2. Draw a graph showing how a decrease in aggregate demand could produce a lower average preice level and lower national income.

3. Draw a graph showing how an increase in aggregate demand could result in a higher average price level at the same level of national income.

Reference no: EM131095460

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