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2. What will happen to the short run equilibrium (1) price level, (2) quantity of Real GDP, and (3) unemployment rate in each of the
2. What will happen to the short run equilibrium (1) price level, (2) quantity of Real GDP, and (3) unemployment rate in each of the following cases? (Increase, Decrease, or Stay the same).Explain and show your answer graphically.(You may use Word drawing tools, Microsoft Paint, or another program of your choice to draw your graphs.Your graphs must be included in the space below, not in a separate file.)
a)Interest rates in the economy increase.
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