The long-run impact of a decrease in aggregate demand is likely an increase in the price level but no change in real production.
What is an aggregate demand?
Basically, an aggregate demand refers to the measurement of the total amount of demand for all finished goods and services produced in an economy. This demand are expressed as the total amount of money exchanged for those goods and services at a specific price level and point in time.
In macroeconomics, any decrease in an aggregate demand in the long-run aggregate market results in an increase in the price level but no change in real production.
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