Question 48 10 pts Choose ONE of the following (A., B., or C.; answer only ONE. If more than one short-answer question is answered, only the FIRST will be graded). The quality of your answer will determine your grade: A. Suppose the economy is in short-run equilibrium. Use the AD-AS model to predict short-run changes to real GDP and the aggregate price level if commodity prices suddenly decrease. Explain your reasoning. B. Suppose the annual inflation rate is at 1.7%, and 8.6 % of the labor force is unemployed. If you were on the Federal Reserve's Open Market Committee, what action would you prescribe? How would this affect the economy, the inflation rate, and the unemployment rate? C. Why are banking-crisis recessions so bad? Edit View Insert Format Tools Table 12pt Paragraph BIU I