12a.- What is are the 4 components (economic actors) of AD?

12b.- What is the most imortant reason the total amount bought is larger at lower levels of inflation? (HINT: it’s listed first in AD in our textbook.)

12c.- What does the short-run AS tells us about the price level as the economy tries to produce more output?

12d.- What has to happen for a curve to shift? (HINT: ceteris paribus)

12e.- If (only) the AD curve shits to the right (OUT), what happens to equilibrium Real GDP and Price Level (inflation)?