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.
Clint Eastwood has won 4 Oscars: Best Director and Best Picture (as producer) for Unforgiven and Million Dollar Baby. Clint Eastwood has won four Oscars as of 2009: In addition, he has been nominated for six other Oscars. 1  Nominated Oscar Best Actor for: Unforgiven (1992) 2  Nominated Oscar Best Director for: Mystic River (2003) 3  Nominated Best Picture for: Mystic River (2003) Shared with: Robert Lorenz and Judie Hoyt. 4  Nominated Oscar Best Actor for: Million Dollar Baby (2004)