d) Your team of economists is constantly monitoring economic conditions around the world, on the lookout for any potential economic shocks that could disrupt the global economy. In recent weeks, your attention has been focused on the UK economy which has been experiencing multiple economic challenges: shortages and price rises in fuel; shortages in transport workers due to the consequences of Brexit; and large disruptions to supply chains that are preventing the transportation of many essential products. Visually illustrate this shock to the UK economy using the following AD-AS diagram. For simplicity, assume that the economy is initially at Y\". Imagine that your economist colleagues working at the Bank of England have contacted you to ask for your economic advice. Australia has recently signed on a new trade deal with the UK and it is in Australia's interest for the UK economy to restrengthen. What 'doubly problematic' macroeconomic concerns would you alert them to in relation to this type of economic shock? (1-2 sentences]I The Bank of England is trying to gure out the most appropriate monetary policy response in this situation. Your colleagues inform you that they are concerned about unemployment, but even more concerned about ination. What monetary policy prescription would you recommend? (2-3 sentences) Adding on what you have already illustrated in your AD-AS diagram, illustrate what would happen to the UK economy if they adopt your policy advice. Use the bullet points to explain each step Be sure to show the nal effect on Output and Price Level, relative to your starting equilibrium