If the price level increases in the economy, Group of answer choices The aggregate demand will fall and shift to the left. The total spending in the economy will fall. The aggregate supply will fall and shift to the left. The total spending in the economy will rise.

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18-07-2022
Business

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If the price level increases in the economy, Group of answer choices The aggregate demand will fall and shift to the left. The total spending in the economy will fall. The aggregate supply will fall and shift to the left. The total spending in the economy will rise.

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sharmaaashutosh169 sharmaaashutosh169 · Answer 1 · 2022-07-25T11:41:14+02:00

The answer is total spending in the economy will rise.

In the broadest sense (and assuming constants), a rise in aggregate demand corresponds to an increase in the price level; conversely, a drop in aggregate demand corresponds to a fall in the price level.

When the price level in an economy grows, so does the average price of all products and services sold. Inflation is measured as the percentage rise in a country's price level over a given time period, which is generally a year. This signifies that inflation is occurring throughout the period in which the price level rises.

Therefore, the answer is total spending in the economy will rise.

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