Question

During the great recession, the u.s. aggregate demand curve shifted to the left, in part, because:

Answer 1

My thoughts are because people did not have the money to buy the goods, particular luxury items.  Supply went down., following demand?  

Answer 2

During the great recession, the US aggregate demand curve shifted to the left, because the money supply was reduced by the American government.

What was the great recession?

The great recession was a condition that rise in the United States from 2007 to 2009 when the economy of the country got disturbed because of providing easy credit to borrowers with a low rate of interest.

During the great recession, the shift in the demand to the left side has been noticed because of decrease in the amount of money supplied by the American government.

An increase in the unemployment rates is the biggest effect of the recession which is linked to higher levels of stress, worse health outcomes, decreases in children's academic and educational performance, and so on.

Learn more about the Great recession, here:

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