A recession overseas causes foreigners to buy fewer U.5. goods. On the following graph, indicate the short-run and long-run effects of this change on the economy, assuming policymakers take no action. LRAS Aggregate Supply Aggregate Demand Price Level Aggregate Supply LRAS Aggregate Demand Quantity of Output decreases QUE increases remains unchanged In the short run, the price level and output decreases Quantity of Output remains unchanged increases In the short run, the price level and output lower higher In the short run, the price level unchanged 7 and output In the long run, the price level will be and output will be compared to the initial equilibrium prior to the change. lower In the short run, the price level and output unchanged In the long run, the price level will be and output will be compared to the initial equilibrium prior to the change