Draw an AD/SRAS/LRAS graph in initial long run equilibrium Label the vertical and horizontal axes appropriately Clearly identify the original price and real GDP level On this graph, demonstrate what...

Draw an AD/SRAS/LRAS graph in initial long run equilibrium Label the vertical and horizontal axes appropriately Clearly identify the original price and real GDP level On this graph, demonstrate what happens to the aggregate price level and real GDP when the Federal Reserve Bank runs expansionary monetary policy Explain why you have shifted the curve you did and the direction you have shifted it Identify whether the shift has caused a recessionary or inflationary gap