Hello - very stuck on this question parts A and B

laecon1.lyryx.com C + Question 4 [6 points] In recent years the federal government increased the GST from 7 percent to 8 percent. a) Use an AD/AS/Y diagram to illustrate and explain the effects of this tax change on equilibrium output and inflation. AS Curve AD TA'S Inflation Rate Reset Real GDP b) If the economy was in equilibrium at potential output and the target inflation rate before the tax hike, what monetary policy action, if any, would be required to maintain those equilibrium conditions after the tax hikes? The central bank recognizes the effect of the GST hike on the inflation, which (Select one) the central bank's measure of core inflation causing the bank to (Select one) . Within a year, the effect of the GST hike on inflation (Select one) and the economy is at equilibrium at (Select one) Official Time: 15:01:41 SUBMIT AND MARK SAVE AND CLOSE