Please label each answer and draw the graph!!!

1) The graph below show the persistent negative GDP gap in the US following the Great Recession FRED - Real Potential Gross Domestic Product ass Domestic 16,800 16,400 16,000 15,600 of Chained 2009 Dollars 15,200 P 14,900 14,400 14,00 13,600 2006 2008 2010 2012 2014 Draw a aggregate supply and aggregate demand graph depicting point A where we are in general equilibrium (the AD, SRAS, and LRAS all intersect at point A where real GDP equals potential GDP. Label these three curves with a subscript A. (10 points for a correct and completely labeled graph) a) (5 points) We know that during the Great Recession the US experienced adverse shocks to the SRAS as well as to the AD curve. Please list separately the factors that caused the adverse shocks to SRAS and AD respectively. Show how these shocks map to your AS-AD diagram and label as point B and the associated AS - AS curves with a subscript of B. b) (5 points) Now explain how the self correcting mechanism along with the effects of a persistent negative GDP gap is 'supposed to get the economy back to potential as in point C on the graphic above. Please label as point C on your diagram. c) c) (5 points) Now offer an explanation as to why the economy has not self corrected and thus, the negative GDP gap persists as in point D in the graphic above. Don't worry about labeling point D on your graph