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2. The economy of G'ville currently is long run equilibrium. a. Using correctly labeled side by side graphs of AD/AS and the LRPC and SRPC

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2. The economy of G'ville currently is long run equilibrium. a. Using correctly labeled side by side graphs of AD/AS and the LRPC and SRPC i. Label the current equilibriums as Yf and NRU (natural rate of unemployment) b. Assume this economy experienced a positive supply shock. 1. Show the changes to both the AD/AS model and the Phillips curves C. If the G wanted to restore long run equilibrium, describe one action they may take and its results on the AD/AS and Phillips curves

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