Question: Ci/ A0 ('3 E 6 .V or.) [1 Oc'Secrch October17, 2021, 11:00 AM The figure given below represents the equilibrium real GDP and price level

Ci/ A0 ('3 E 6" .V or.) [1 Oc'Secrch October17, 2021, 11:00 AM The figure given below represents the equilibrium real GDP and price level in the aggregate demand and aggregate supply mode. In the figure below, AD is the aggregate demand curve; SRAS is the short-run aggregate supply curve; LRAS is the long-run aggregate supply curve. Figure 19 SRAS V: Y: Y: (Attention: If you can't see Figure 19,_please click here to download and view the image. Thank you.)_ 3, Refer to Figure 19. Suppose the economy starts at Z. If changes occur that move the economy to a new short run equilibrium of P1 and Y1 , then it must be the case that: short run aggregate supply has decreased. short run aggregate supply has increased. aggregate demand has increased. 7 aggregate demand has decreased

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