Problem
1. Suppose aggregate demand increases, causing an increase in real GDP but no change in the price level. Using an aggregate demand and aggregate supply diagram, illustrate and explain how this could occur.
2. Suppose aggregate demand increases, causing an increase in the price level but no change in real GDP. Using an aggregate demand and aggregate supply diagram, illustrate and explain how this could occur?
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.