Relatively recently, Toyota took over the position of the world's largest automobile manufacturer from General Motors (GM). This is an example of ________ in the United States.

Question

Quizplus · Accepted Answer

A negative aggregate demand shock occurs when there is a decrease in the overall demand for goods and services in an economy. In this case, GM's loss of its position as the world's largest automobile manufacturer to Toyota suggests a decrease in the demand for GM's automobiles, which constitutes a negative aggregate demand shock.

Relatively Recently, Toyota Took Over the Position of the World's