The graph below shows the AD-AS diagram for Norway. Suppose that the economy is initially in long-run equilibrium with the price level of 800 (Red AD and SRAS curves). Now suppose that housing market boom. 1200 1100 900 800 700 600# 500 400 Price Level 300 200- 100 100 200 300 400 500 600 700 800 900 1000 1100 120 Real GDP Q1. As a result of this event what is the new short-run price level? 2. As a result of this event, what is the new short-run GDP? 3. As a result of this event, what is the new long-run price level? 4. As a result of this event, what is the new long-run GDP