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.
About Clint Eastwood . Clint Eastwood net worth is estimated at $375 million and recently there have been a lot of gossip that the star is about to lose at least half of it. This is because Clint is currently trying to get away from his 17-year-long marriage and the divorce process has not been summarized yet.