Question: If answer can be wrote clearly will be perfect, thank you. fThe long-run AS curve is given as Y =100. a) Derive the SRAS curve.
If answer can be wrote clearly will be perfect, thank you.


\fThe long-run AS curve is given as Y =100. a) Derive the SRAS curve. (Note: The value of EP is not specified. You need to leave it as EP in your SRAS curve.) b) Suppose that the economy is currently at the long-run equilibrium. Determine the equilibrium values of Y, P, and EP. Also draw the AD, SRAS, and LRAS curves to describe the equilibrium. c) Suppose that, as a result of an expansionary fiscal policy, the aggregate demand changes to: Y=330-2P. Suppose that this policy was not expected. Describe the short-run equilibrium using the AD, SRAS, and LRAS curves. Determine the equilibrium values of Y, P, and EP
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