Suppose that the United States economy is in a deep recession. (a) Using a correctly labelled aggregate demand and aggregate supply graph, show the equilibrium price level and real gross domestic product. (b) The Federal Reserve wants to fix the economy. Choose and identify one tool of monetary policy and show on the graph in part (a) the effect on the economy. (c) Explain how a decrease in personal corporate income taxes will affect the following in the short-run (i) Spending (ii) Real gross domestic product and price level (iii) Imports (iv) Exports (d) Explain how lowering interest rates will affect investment and will cause a change in: (i) Aggregate demand (ii) Long-run aggregate supply