The following graph shows the aggregate demand $($AD$)$ and aggregate supply $($AS$)$ curves in the goods and services market before the Fed implements its contractionary policy. Illustrate the effect of the change in investment demand you illustrated on the graph by shifting the appropriate curve on the graph.

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Fill in the blanks to interpret the effect of the Fed's policy.

When the Fed sells bonds, the amount of money in circulation in the economy $.$ This drives interest rates $q,,$ which causes businesses to invest $q,$ in capital improvements such as new factories and upgraded equipment. The result is $$ in aggregate demand, $$ in the equilibrium price level, and in the equilibrium level of real GDP$,$