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 O LRAS PRICE LEVEL AD 0 2 3 5 OUTPUT (Trillions of dollars)L o SRPC l:l LIJ l2 LRPC o: 2 9 ,_ a SRPC E D 3 B D 12 15 1e UNEMPLOYMENT RA'I'E (Percent) which of the following statements are true based on these graphs? Check all that apply. C] The natural level of output is $3 trillion. C] The unemployment rate is currently 9% higher than the natural rate of unemployment. C] The current quantity of output is greater than potential output. Suppose the central bank of the e-conom'lr increases the moneyr supply. Show the longrun eiec'ts of this policy on both of the graphs by shifting the appropriate curves. The longrun effect of the central bank's policy.I is V in the inaan rate, V in the unemployment rate, and v in real GDP