Looking at the model of long-term and short-term aggregate demand and aggregate supply, why is the aggregate-demand curve sloping downward? explain why the long-term aggregate-supply curve is vertical? explain why the short-term aggregate-supply curve is upward sloping? what might shift the aggregate-demand curve to the left? what are the short-term and long-term effects of such a shift on output and the price level?

Peppy knows a lot about marketing, but not much about the legal or financial aspects of starting a new business. he wants to consult with a lawyer and accountant, but his budget is tight with all of the expenses involved in getting peppy's pizzazzeria up and running. peppy should: trust his basic instincts and try to put it together without the advice of lawyers and accountants. delay talking with a lawyer and accountant until the business has established a positive cash flow for at least one year. immediately hire full-time lawyers and accountants for his staff. consult with a lawyer and accountant even though the budget is tight.