Please answer the following question:

4. The AD and AS schedules are shown in the following table for the economy of Ithia. Price Index Aggregate Demand Aggregate Supply 90 1700 950 95 1650 150 100 1600 1300 105 1550 1420 110 1500 1500 115 1450 1540 a. What are the macroequilibrium values of price and real GDP? b. Draw the AD and AS curves using the grid below. If the potential GDP is $1500, is there a recessionary or inflationary gap? c. Assume that there is the discovery of a new resource which increases AS by $300. What will be the new equilibrium values of price and real GDP? Is there now a recessionary gap or an inflationary gap? How much is the gap