The first reason for the downward slope of the aggregate demand curve is Pigou's wealth effect. Recall that the nominal value of money is fixed, but the real value is dependent upon the price level. This is because for a given amount of money, a lower price level provides more purchasing power per unit of currency.
Clinton Eastwood Jr. was born on May 31, 1930, in San Francisco, California. He was the first of Clinton and Ruth Eastwood's two children.
How many kids does Nelson Mandela have? Nelson Mandela has fathered six children with three wives, and the beloved former South African president and anti-apartheid leader has 17 grandchildren and 14 great-grandchildren, according to NelsonMandela.org. RELATED: Nelson Mandela Rushed To Hospital, In âSerious Conditionâ.