Question 18
[Maximum number: 1]
The diagram shows an economy's aggregate demand curve.

What explains the downward movement from L to M along the AD curve?
A
an increase in tariffs leading to decreased imports
B
a decrease in taxes on firms, causing an increase in short-run aggregate supply
C
an increase in consumer confidence, prompting higher spending on local goods as well as imports
D
a slow-down in economic activity, resulting in decreased investment spending
