With the bulleted points, give me this data for Italy. Support with evidence, use specific quotations, and give reasoning and explanations for all. DO NOT write in paragraph, just the bulleted points.

In this application you will be charged with demonstrating that you understand the causes and effects of shifts in aggregate demand and short-run aggregate supply. Show me that you are able to apply the topics that we have discussed to real world scenarios. Topics/Terms: - Fiscal policy o Expansionary fiscal policy o Contractionary fiscal policy - Budget deficit vs. budget surplus - Aggregate demand - Causes of shifts in the AD curve - Aggregate supply - Causes of shifts in the SRAS curve - Short-run equilibrium o Recessionary (deflationary) Gap o Inflationary Gap o Short-run Full Employment Equilibrium Requirements: o Select a country that has experienced a recessionary gap or inflationary gap in recent decades. Provide a brief background on the situation. Using a short-run AD-AS model, determine and explain 2 specific factors that caused the AD or SRAS curves to shift and led to the gap. Your analysis should demonstrate that you understand the specific components that determine AD and LRAS. Specifically address the impact on (1) price level, (2) real GDP, and (3) unemployment. Using a short-run AD-AS diagram, show and explain the shifts explained above. Define the type of fiscal policy that the government should employ to address the gap and provide 2 specific recommendations. Provide proper attribution for any thoughts/ideas that are not your own in MLA or APA format (you need in-text citations and a works cited page)