The price of gasoline has fallen recently which has lowered, Business Economics

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The price of gasoline has fallen recently which has lowered

The price of gasoline has fallen recently which has lowered shipping costs for most of the inputs firms use. Determine how this would affect aggregate demand (AD) and/or short-run aggregate supply (SRAS) and the effect that would have on the aggregate price level (PL) and aggregate output (real GDP).

AD would (increase, decrease, stay the same) ____________

SRAS would (increase, decrease, stay the same) ____________

The PL would (increase, decrease, stay the same) ____________

Real GDP would (increase, decrease, stay the same) ____________

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Business Economics: The price of gasoline has fallen recently which has lowered

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