Question 4 Suppose the economy is in long-run equilibrium. Draw appropriate diagrams to show the impact on aggregate demand, on short-run aggregate supply or long-run aggregate supply of each of the following, assuming they all happen, in the sequence they are listed: a. Demand for Australian iron ore and coal increases dramatically as the Chinese economies expand bReserve Bank of Australia decreases the cash rate by 25 basis points to combat the lower than expected growth rate b. Australian dollar depreciates as demand for the Australian dollars decreases in the international markets C.A new technology is perfected that lowers the cost of geo-sequestration, the process by which greenhouse gases are captured and stored deep underground Question 4 Suppose the economy is in long-run equilibrium. Draw appropriate diagrams to show the impact on aggregate demand, on short-run aggregate supply or long-run aggregate supply of each of the following, assuming they all happen, in the sequence they are listed: a. Demand for Australian iron ore and coal increases dramatically as the Chinese economies expand bReserve Bank of Australia decreases the cash rate by 25 basis points to combat the lower than expected growth rate b. Australian dollar depreciates as demand for the Australian dollars decreases in the international markets C.A new technology is perfected that lowers the cost of geo-sequestration, the process by which greenhouse gases are captured and stored deep underground