Assume people and firms have rational expectations. 

Explain how each of the following events will affect aggregate output and the price level.
a. The Fed announces it will increase the required reserve ratio.
b. Congress unexpectedly passes a bill that will immediately decrease taxes.
c. The Fed announces it will increase the supply of money.
d. Without notice, OPEC increases oil production by 40 percent.
e. The government passes a previously unannounced disaster relief spending bill, authorizing an immediate $400 billion increase in funding.