Question: * Question Completion Status: Consider the AD-AS graph below: AD-AS graph.png LRAS P SRAS2 W SRAS 4 2 AD2 ADI Yp Real GDP Start at

* Question Completion Status: Consider the AD-AS graph below: AD-AS graph.png LRAS P SRAS2 W SRAS 4 2 AD2 ADI Yp Real GDP Start at equilibrium point 3 Suppose there is a decrease in consumer confidence. The new AD curve is (AD1, AD2) The new equilibrium is (1, 2, 3, 4) The price level will (rise, fall) Real GDP will (rise, fall) Cyclical unemployment will (rise, fall)

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