Because deflation is so costly, some have argued that setting an inflation target at 2 percent is too low and it should be set higher, especially in the economic environment of 2007-2010 (and perhaps now?). Consider the impact of an increase in the inflation target using the AD/AS framework in the short and long runs. Begin your analysis in long-run equilibrium and describe the step by step shifts in AD and/or AS that would occur (short and long run).Be sure to explain WHY the shifts occur and what happens moving from one equilibrium to the next.