Describe how the following changes affect the aggregate demand (AD) curve. Your answer must state clearly which component of the aggregate demand is affected and how AD curve eventually shifts . (i) Firms are pessimistic about the future sales . [2 marks } (ii) Tie government has announced a reduction in personal taires . [2 marks } (iii) Tie currency of acountry depreciates against major trading partners . {2 marks ) (iv) The central bank cuts interest rates to boost market sentiment . [2 marks } Using the aggregate demand and aggregate supply [ADAS) model, explain what will happen to the equilibrium price level and Real Gross Domestic Product (GDP) when each of the following events occurs : (i) Households expect higher future prices after the implementation of General Sales Tax {GET )_ (3 marks 1' (ii) An increase in labour productivity. {3 marks ) (iii) The price of raw materials has decreased by 40%; [6 marks } (iv) Personal income tax has been decreased . {IE marks Using the aggregate demand and aggregate supply [AD -AS)diagIam ,explain what will happen to the equilibrium price level and Real GDP when each of the following events occurs : (i) A technological advancement in agricultural sector. [3 marks } (ii) The Malaysian government's economic stimulus package of RMB billion. [3 marks ) (iii) An appreciation of Ringgit Malaysian [RM J. [3 marks ) Using the aggregate demand and aggregate supply [AD AS}diagrarn ,explain what will happen to the equilibrium price level and Real GDP when each of the following events occurs : (i) An increase in labour productivity. [3 marks } (ii) Businesses become pessimistic about future sales . (3 marks } (iii) An increase in wage rates . [3 marks }