Summarizing Aggregate Demand and Aggregate Supply Shifts For each of the events below, make additions to the graph to illustrate the change. Then indicate the response in terms of shifts in or movements along the aggregate demand or aggregate supply curve and the short-run effect on real GDP and the price level. Indicate shifts in the curve by S and movements along the curve by A. Indicate the changes in price level, unemployment and real GDP with the letter I for an increase and the letter D for a decrease. Increase in labor Increase in the price Boom in investment A change in policy by productivity due to a of inputs used by spending; assume not the Fed raises interest technological change many firms all resources are rates causing a major employed reduction in business investment. Level X Level PL PL IX RGDP RGDP RGDP RGDP AD Curve: AD Curve: AD Curve: AD Curve: AS Curve: AS Curve: AS Curve: AS Curve: Price Level: Price Level: Price Level: Price Level: RGDP: RGDP: RGDP: RGDP: Unemployment: Unemployment: Unemployment: Unemployment