Final answer:
A negative relationship exists between the price level and net exports, as a higher price level increases import attractiveness and makes exports more expensive, reducing net exports.
Step-by-step explanation:
A negative relationship exists between the price level and net exports. When the price level within a country increases, that country's exports become more expensive for foreign buyers, which tends to decrease the country's exports. Simultaneously, the higher domestic price level makes foreign goods and services more attractive to domestic consumers, potentially increasing imports. Consequently, a higher price level typically reduces net exports, while a lower price level does the opposite by encouraging exports and reducing imports. This phenomenon, known as the international trade effect, contributes to the negative slope of the aggregate demand curve.