Assume that the nominal money supply is fixed at M = 150, and the velocity of money is fixed at V = 2. Complete the following table Table 1 MVPY 150 2 1 150 2 2 150 2 3 150 2 4 150 2 5 a. Draw the aggregate demand curve (Graph 1), and label it AD1. b. Long-run Aggregate supply curve: Suppose that the economy is operating at its natural rate, and the output (Y) = 150. Draw the long-run aggregate supply curve on Graph 1, and label it LRAS. c. Short-run aggregate supply curve: In the short-run, the price level is fixed at P = 2. Draw the short-run aggregate supply curve on Graph 1, and label it SRAS. Show the economy's short-run and long-run equilibrium point and label it A. d. The Bank of Canada increases the nominal money supply (M) to 200. Complete the following table. Draw the new aggregate demand curve on Graph 1, and label it AD2. Show the economy's new short-run equilibrium and label it B. What will be the P and Y level at point B? How does the economy make a transition from the short-run to the long-run and reach the new long-run equilibrium point C? What will be the P and Y level at point C? Table 2 MVPY 200 2 1 200 2 2 200 2 3 200 24 200 2 5