Problem
(Wall Street Journal) This chapter introduced the tools of aggregate demand and supply. Can you use them? Test your understanding by finding an article in today's Wall Street Journal describing an event that may affect the U.S. price level and real GDP. Look under "Economy" or "International" in the First Section of the newspaper. Draw an initial set of AD and AS curves and then determine which curve will be affected and in which direction it will shift. What do you predict will happen to the price level and real GDP?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.