Suppose, instead of waiting for the economy described in question 14 to return to long-run equilibrium, the central bank opted to use the positive supply shock as an opportunity to move to a lower infl ation target. Illustrate the impact of this change in the infl ation target using an aggregate demand–aggregate supply diagram. Compare this with a graph of a situation where the central bank lowers its infl ation target in the absence of a positive supply shock.