CENGAGE | MINDTAH mework (Ch 20) The following graph shows a decrease in aggregate demand (AD) in a hypothetical country. Specifically, aggregate demand shifts to the left from ADi to AD2, causing the quantity of output demanded to fall at all price levels. For example, at a price level of 140, output is now $200 billion, where previously it was $300 billion. 170 160 150 140 130 PRICE LEVEL (CPI) 120 110 AD 100 AD 2 90 0 100 200 300 400 500 600 700 800 REAL GDP (Billions of dollars)