-Refer to the above figure. An increase in aggregate demand beyond real Gross Domestic Product (GDP) level Y₁ would result in

Name: -Refer to the above figure. An increase in aggregate demand beyond real Gross Domestic Product (GDP) level Y 1 would result in
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An increase in aggregate demand beyond the full employment level of GDP (Y1) typically leads to a higher price level without an increase in real GDP, as the economy is already at or near its capacity.

-Refer to the Above Figure