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The aggregate demand curve reflects: a direct relationship between the price level in an economy and real GDP demanded, other things constant. an inverse relationship between the price level in an economy and real GDP demanded, other things constant. an inverse relationship between the price level in an economy and nominal GDP demanded, other things constant. an inverse relationship between the real GDP demanded and total unemployment, other things constant. a direct relationship between real GDP demanded and total unemployment, other things constant.
Given an aggregate supply curve, a decrease in aggregate demand will: increase the price level. increase real GDP. decrease the real exchange rate. increase the real interest rate. decrease real GDP.