4- ) (Aggregate Demand and Supply) Determine whether each of the following would cause a shift of the aggregate demand curve, a shift of the...

4- ) (Aggregate Demand and Supply) Determine whether each of the following would cause a shift of the aggregate demand curve, a shift of the aggregate supply curve, neither, or both. Which curve shifts, and in which direction? What happens to aggregate output and the price level in each case? Brielfy explain.a. The price level changesb. Consumer confidence declinesc. The supply of resources increasesd. The wage rate increases

Question: 4- ) (Aggregate Demand and Supply) Determine whether each of thefollowing would cause a shift of the aggregate demand curve, a shift of the aggregatesupply curve, neither, or both....