In the period from 1929 through 1933,there were successive ________ in aggregate demand and ________ in short-run aggregate supply.

Question

Quizplus · Accepted Answer

The period from 1929 through 1933 is commonly referred to as the Great Depression, during which there was a series of decrease in aggregate demand and increase in short-run aggregate supply. The decrease in aggregate demand was due to factors like a sharp decline in consumer spending and investment, which led to a decrease in the demand for goods and services. The increase in short-run aggregate supply was due to factors like technological progress, which increased productivity and led to a higher supply of goods and services.

In the Period from 1929 Through 1933,there Were Successive ________