Write an investment function (equation) that specifies two components: (a) autonomous investment spending and (b) induced investment spending.  Economist Smith believes that changes in aggregate...

Write an investment function (equation) that specifies

two components: (a) autonomous investment spending

and (b) induced investment spending.

 Economist Smith believes that changes in aggregate

demand affect only the price level, and economist Jones

believes that changes in aggregate demand affect only

Real GDP. What do the AD and AS curves look like

for each economist?