Suppose the money market for some hypothetical economy is given by the following graph, which plots the money demand and money supply curves. Assume the central bank in this economy (the Fed) fixes the quantity of money supplied. Suppose the price level decreases from 150 to 125. Shift the appropriate curve on the graph to show the impact of a decrease in the overall price level on the market for money. 12 Money Supply O 10 Money Demand O 3 Money Supply INTEREST RATE (Percent) Money Demand 15 30 45 80 75 90 MONEY (Billions of dollars)Following the price level decrease, the quantity of money demanded at the initial interest rate of 6% will be than the quantity of money supplied by the Fed at this interest rate. As a result, individuals will attempt to their money holdings. In order to do so, they will bonds and other interest-bearing assets, and bond issuers will realize that they interest rates until equilibrium is restored in the money market at an interest rate of %The following graph plots the aggregate demand curve for this economy. Show the impact of the decrease in the price level by moving the point along the curve or shifting the curve. 300 O 250 Aggregate Demand 200 150 PRICE LEVEL 100 Aggregate Demand 50 30 60 08 120 150 180 OUTPUT (Billions of dollars)The change in the interest rate found in the previous task will lead to a T in residential and business spending, which will cause 1' in the quantity of output demanded in the economy