Question 3 {this question has two parts, {a} 8: {b)} (a}Since the economy recovers quicklyr after SQUID-19, (i) manyr discouraged workers re-enter the job market to look for jobs, and (ii) the government increases its spending on research and development. Please use the dynamic AD, SPAS, and LRAS framework to examine thejoint impact of (i) and {ii} on the employment, price level, and output in the short run and the long run. [1 D marks] {b} In 2022, (i) the interest rate in Australia and New Zealand was 3.1% and 4.25% respectively, and [ii] their respective GDP growth rate was 5.9% and 23%. While taking other factors as given, use foreign exchange market and static aggregate demandaggregate supply diagrams to illustrate and explain the joint effect of {i} and (ii) on the Australian real GDP. [1 D marks]