The price level rises in the short run if a. aggregate demand or aggregate supply shifts left. b. aggregate demand shifts right or aggregate supply shifts left. c. aggregate demand or aggregate supply shifts right. d. aggregate demand shifts left or aggregate supply shifts right.

A price is termed as the sum of the amount that is paid to the one party that provides the goods and services by the other party that consumes the provided goods and services. In some of the situations, the name of the price for the different goods and services gets changed or altered.

The correct options are b. aggregate demand shifts right or aggregate supply shifts left.

There is a positive relationship between the supply and the price whereas there is a negative relationship between the demand and the price. In the situation of rising in the level of the prices of the goods and services in the short run, the aggregate demand shows the decline effect of the goods and services and the aggregate supply shows the increasing effect of the goods and services.

To know more about the effect of price on the aggregate demand and supply, refer to the link below:

https://brainly.com/question/15874992