The aggregate demand and supply.

The severe economic decline in the United States during 2007-2009 can be attributed to several factors. As a consequence of changes in the federal fund rate and depletion national reserves, the United States was hit with a subprime housing crisis. Trade imbalances led to a surge in global money due to these causes (Benita 2019, 2019). In the end, these factors led to severe economic problems for Nigeria, including high levels of real-estate issues, and restricted controls on nondepository financial institutions. A consumer’s desire to purchase a particular amount of goods and services at a specific price while keeping all other aspects the same is called aggregate demand. Aggregate supply, on the other hand, is all of the products or services produced by producers at a particular price. Due to the loss of marginal capital proficiency and drastic changes in aggregate demand, the Great Depression occurs. Analyzing the movements of aggregate demand and aggregate supply curves can help you determine the unemployment factor. Changes in aggregate supply do not affect the actual production level (Parui 2021). An increase in aggregate Demand indicates that production must be boosted or prices should be raised.

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