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macroeconomic EXERCISE: Analyze SR & LR effects of AM a. Draw the IS-LM and AD-AS r LRAS LM(MIP1) diagrams as shown here. b. Suppose Fed

macroeconomic

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EXERCISE: Analyze SR & LR effects of AM a. Draw the IS-LM and AD-AS r LRAS LM(MIP1) diagrams as shown here. b. Suppose Fed increases M. Show the short-run effects IS on your graphs. c. Show what happens in the Y Y transition from the short P run to the long run. LRAS d. How do the new long-run SRAS, equilibrium values of the P1 endogenous variables compare to their initial AD values? Y Y

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