Help with part 3

Part III - Use the AD - AS Model to Illustrate Use this graph of Aggregate Demand and Short-Run Aggregate Supply to illustrate the changes to AD, SRAS, RGDP and the price level due to the Covid-19 pandemic. Average Price level SRAS AD 0 Output 1. Get value of RGDP for Q4 2019 from your work in Part II of this assignment and label Y as that value. 2. Draw a new AD line representing AD in Q2 2020 after many people lost their jobs due to Covid-19. 3. Draw a new line for SRAS representing SRAS in Q2 2020 after many businesses closed due to Covid-19. Label the new short-run equilibrium RGDP and Price Level. Hint: Use RGDP data for Q2 2020 from your work in Part II of this assignment and P2 for the new price level. 5. Insert a digital image of your graph here or take a photo of your graph and submit it as an attachment in your D2L Assignment. 6. Does output (i.e. RGDP) increase or decrease in your model? 7. Does the price level increase or decrease in your model? According to the AD-AS model, what will happen to the Unemployment rate based on your graph? Tip: recall the relationship between output (RGDP) and unemployment. Part IV - Find Unemployment Rate Data Step 1: Go to Fred (the Federal Reserve Data website) FRED Unemployment Rate Data Step 2: Change dates to 2000 - 2020 in the menu as shown here: Unemployment Rate (URATE LENT CRAM O FRED 2000-2009 2001 2002