7. The long-run effects of monetary policy The following graphs show the state of an economy that is currently in long-run equilibrium. The first graph shows the aggregate demand (AD) and long-run aggregate supply (LRAS) curves. The second shows the long-run and short-run Phillips curves (LRPC and SRPC). LRAS O AD LRAS PRICE LEVEL AD 0 2 6 8 10 12 OUTPUT (Trillions of dollars)\fwhich of the following statements are true based on these graphs? Check all that apply. C] The natural level of output is 3%. C] It is impossible to detenTIine the natural rate of unemployment from these graphs alone. C] The natural rate of unemployment is 3%. Suppose the central bank of the economy increases the money supply. Show the longrun eiects of this policy on both of the graphs by shifting the appropriate curves. The longrun effect of the central bank's policy is V in the ination rate, V in the unemployment rate, and v in real GDP