2 The New Keynesian Model: AS ( Modified Exercises 1-3 from GLS Ch25 on page 554 ) Consider the supply side of the economy in the New Keynesian model. (a) What is the key difference between the New Keynesian and Neoclassical models? (b) Define the simple sticky price AS curve and draw it. {) Define the partial sticky price AS curve. What is the role of the parameter ~7 (d) Draw the partial sticky price AS eurve, and explain. {e) In the COVID-19 pandemic, the government imposed strict social distancing rules that afl- fected how many workers were allowed to work in each work place. Explain how this could affect the simple and partial sticky price AS curves