figure. Suppose that the economy is currently operating at the intersection of AS and AD 2 and that the full-employment level of output is Y. If contractionary fiscal policy and accompanying multiplier effects move aggregate demand from AD 2 to AD 1, what will be the effect on real GDP and the price level? Group of answer choices Real GDP will fall to Y and the price level will fall to P 0, assuming inflexible prices. Real GDP will fall to X and the price level will remain unchanged, assuming prices are inflexible downward. Real GDP will fall to X and the price level will fall to P 0, assuming inflexible prices. Real GDP will fall to Y and the price level will remain unchanged, assuming inflexible prices