Consider the (static) ADAS model in the short run. When the AD curve shifts frequently, the AS curve O will be steeper (more inelastic or less elastic) O will be flatter (more elastic) O will be steeper (more elastic) O will be flatter (more inelastic or less elastic)Consider your answer to the last question. This means that, when the Fed does easy (expansionary) monetary policy in the long run, O output will rise with no change in the overall price level O this policy will be completely ineffective (no effect) O inflation will occur with no change in output O this policy can change both prices and outputMonetary neutrality in the ADAS model [We'll use this info in the next queson too.) O occurs in both the long run and the short run O occurs only in the short run O occurs only in the long run C) does not occur