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.
6 Things You Never Knew Or Perhaps Forgot About Clint Eastwood In Honor Of His 85th Birthday. Clint Eastwood is an enduring cultural icon of masculinity -- even as he turns 85 on May 31. The gravelly voiced actor-director has left his mark on Hollywood, bringing home five Academy Awards, five Golden Globes, and numerous other honors. So on this, his 85th birthday, we'd like to go ahead and make his day.