1. Draw the long-run aggregate supply curve (LRAS), the short-run aggregate supply curve (SRAS), and the aggregate demand curve. Be sure to label the axes properly. (3 points) 2. Suppose that there is a stock market crash that leads to a recession. Using the graphs from the previous question, show what happens to output and the price level in the short-run and the long-run. (2 points) 3. Assuming that there is no government intervention, explain and show graphically the mechanism that restore equilibrium in the economy. (3 points) 4. Assuming that there is government intervention, explain and show graphically how the actions of the central bank restore equilibrium in the economy. (2 points)