Consider the basic neoclassical model. Suppose there is an increase in At. Draw 2 versions ofthe model, one in which labor supply is relatively elastic (sensitive to the real wage} and one with a relatively inelastic labor supply (relatively insensitive to the real wage}. How do the magnitudes of changes in .13, 1",; mmominal wage} and labor) depend on the sensitivity of labor supply to the real wage? Explain How does the analysis change if there is an increase in g; {where g; a variable that captures characteristics other than the real wage that affect labor supply, such as unemployment insurance, demographic changes or changes in preferences}