Draw, carefully label, and describe a graph that utilizes the Aggregate Demand/Aggregate Supply model that would illustrate effects of the large shift in aggregate demand during the first and second quarters of 2020 on the price level and real GDP.

Instructions: You should draw your own AD/AS graph which you can then embed into your post. Your graph needs to be clearly labeled and explained. Your graph must include an aggregate demand (AD) curve, a short run aggregate supply (SRAS) curve, and a long run aggregate supply curve (LRAS, Potential GDP) curve. You should label both axes of the graph. Identify and interpret the price level using the GDP deflator on the vertical axis and the level of real GDP on the horizontal axis.