Question: 1.Drive the AD (Aggregate Demand) curve using the following: IS curve is given as Y = 20XX-100i, LM 1 is Y= 1000+25i (when P =

1.Drive the AD (Aggregate Demand) curve using the following: IS curve is given as Y = 20XX-100i, LM₁ is Y= 1000+25i (when P = 1) and LM₂is Y= 500+25i (when P =2), where XX is 82. Show the derivation in (interest rate-income) and (price level-income) spaces. (You may insert a snapshot of the graphs if drawn manually). Show all step by step working.

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