Question: Time left 2:27:34 (a) Explain what the aggregate demand curve represents and why it is downward-sloping. Please provide an example. (8 marks) of (b) Explain

Time left 2:27:34 (a) Explain what the aggregate demand curve represents and why it is downward-sloping. Please provide an example. (8 marks) of (b) Explain what the aggregate supply curve represents and why it is upward-sloping. Please provide an example. (8 marks). stion (c) Suppose the economy is operating at a point where output is greater than the natural level of output. Given this information, is the actual price level equal to the expected price level at the current level of output Explain. (9 marks)

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