5. For the question below, write an explanation of the short-run effect (including the determinant of AD or (5 points) AS that is causing the shift, the line that shifts [AD or AS], the direction of the shift [left or right], and the impact on output and price level [increase or decrease]) and submit a properly drawn and labeled aggregate demand and aggregate supply graph for the scenario. Make sure your name and assignment number are written on each page of graphs you submit. All text must be written in the text box provided. Congress votes to cut spending on the space program. Essay: In this scenario, the AD line shifts to the left because the government spending is lowered down, decreasing RGDP (the determinant is government spending). Due to the decrease in AD, output decreases and so does the price level