Hi, please answer the following questions with as much explanation as possible.

1. Draw a macro equilibrium using AD/AS. Clearly label all important points on your graph.
2. Show how an expansionary Fiscal Policy affects the equilibrium price level and GDP.
3. What can be said about the trade off between inflation and unemployment in this model?

The next two images are related.

Trade Complete the following table which shows the output of rice and shoes per unit of labor for England and Portugal. 1. What country has and Absolute Advantage in the production of Shoes? 2. What country has and Absolute Advantage in the production of Rice? Suppose each Country has 10 units of labor. Complete the following two tables. Labor in Rice Quantity Labor in Quantity of Rice Shoes of Shoes Portugal Quantity Labor in of Rice Shoes Quan ' of Shoes 3: 2' 1. Which country has and Comparative Advantage in the production of Shoes? (show your work). 2. Which country has and Comparative Advantage in the production of Rice? (show your work). 3. Suppose the Terms of Trade is set at 4 rice trade for 1 shoe. Draw the consumption possibilities curve for each country. 4. Briey explain if England and Portugal will trade at a world price where four rice trade for one shoe