1)Graph a standard AD curve. Draw the following AS curves to the same graph.

horizontal AS curve ; vertical AS curve; upward- sloping AS curve

(NOTE) the above AS curves should meet the AD curve at the (one) same point.

2) Using the diagram drawn in #7, show which AS curve leads to the most significant decreases in GDP when AD decreases at every price level.

3) Using the diagram drawn in #7, show which AS curve leads to the most significant increases in price level when AD increases at every price level.