2. Identify the impact of each of the following trends on aggregate demand. In each case, draw a graph to show the effect on the aggregate demand curve, as well as on the equilibrium price level and real output. a. Consumers become more confident about the prospects for output growth in the Canadian economy. b. Canadian interest rates rise. c. Political pressure ca uses an increase in tax rates on households earning high incomes. d. A newly-elected federal government increases its purchases of goods and sen/ices. e. The American economy experiences a boom. f. The Canadian dollar falls in value against the American dollar. 9. A tumble in real estate prices in some of Canada's major trading partners causes a wave of loan defaults in these countries, as numerous mortgage holders declare bankruptcy