In terms of the aggregate demand and supply framework,the Great Depression can be viewed in terms of a
A)rightward shift of the aggregate demand curve
B)rightward shift of the aggregate supply curve
C)movement downward along the aggregate demand curve
D)a leftward shift of the aggregate demand curve
E)a leftward shift of the aggregate supply curve

Question

Quizplus · Accepted Answer

The Great Depression was characterized by a significant decrease in aggregate demand due to factors such as a decrease in consumer spending, government spending, and investment. This resulted in a leftward shift of the aggregate demand curve, causing a decrease in both price level and real GDP.

In Terms of the Aggregate Demand and Supply Framework,the Great