Question: 16. What is the aggregate demand curve? Draw a graph on one and explain its features. 17. Explain the three explanations for the downward sloping

16. What is the aggregate demand curve? Draw a graph on one and explain its features. 17. Explain the three explanations for the downward sloping AD curve. 18. What are the determinants of AD and how does each affect the curve? 19. Explain the three distinct segments of the AS curve. What conditions prevail in the economy in each of the ranges? 20. What are the determinants of AS and how does each affect the curve? 21. What RGDP is the equilibrium RGDP? What will happen to RGDP if the price level is below equilibrium? 22. What are the effects on the RGDP and price level when AD increases in each of the three ranges along the AS curve?

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