Examine the graph to the right. Considering that the initial situation of the Canadian economy is depicted by a point like E1, where the price level is 120 and the equilibrium level 01 GDP is $1.3 trillion, what will happen with output and the price level in the long run in this economy if the US. economy goes into recession? 1. Using their'rre drawing tool, show the change in aggregate demand. Properly label your line. 2. Using the point drawing tool, identify the new long-run equilibrium point. Label this new equilibrium E2. How does the new equilibrium differ from the original equilibrium? O A. Output is unchanged and the price level is unchanged. O B. Output is unchanged and the price level is reduced. 0 C. Output is decreased and the price level is unchanged. O D. Output is decreased and the price level is decreased. Price level iIIII_ IIIBI_ IIIIE_ . 1.4 1.5 1.8 Real GDP1 per year (5 trillions]