2. Use the ADAS model to diagram the following events, showing what will happen in the short run and in the long run. Unless otherwise instructed, assume that each economy starts from full employment. Abe, state clearly what will happen to output and the price level in the short run and in the long rou. A. Now laws prohibit a large segment of the labor force from working. (+ point) B. Technological advances allow one worker to do the work of ten. (4 points) C. We know that whom an acompany starts out at long-ron equilibrium and the government cuts taxes, This will only rowult in inflation in the long run. What happens if the economy is producing a level of output below the full employment (long-run equilibrium) level and the government cuts taxes? (4 points)