N-N The economy of Inaco was operating at full-employment at the beginning of 2020. Then, due to the spread of Coronavirus output fell below the full-employment level. In Inaco, the wage-employment relationship is represented by the following equation: W+1-W W and the dynamics of the price level is represented by Pet1 = P+1+ per + a a. Draw a graph of the wage-employment relation and an aggregate supply curve. On your graphs, label the pre-COVID price level P2020, and the pre-COVID wage rate W2020. Then show the impact of COVID19 on both graphs and label the new price level Pcovin and the new wage rate WCOVID- b. Provide the economic reason behind why the wage rate and price level changed the way they changed following the spread of COVID 19 in light of the equations provided above. N-N The economy of Inaco was operating at full-employment at the beginning of 2020. Then, due to the spread of Coronavirus output fell below the full-employment level. In Inaco, the wage-employment relationship is represented by the following equation: W+1-W W and the dynamics of the price level is represented by Pet1 = P+1+ per + a a. Draw a graph of the wage-employment relation and an aggregate supply curve. On your graphs, label the pre-COVID price level P2020, and the pre-COVID wage rate W2020. Then show the impact of COVID19 on both graphs and label the new price level Pcovin and the new wage rate WCOVID- b. Provide the economic reason behind why the wage rate and price level changed the way they changed following the spread of COVID 19 in light of the equations provided above