Question: Need a tutor's assistance with explaining, how would you approach the following: 1. Draw a short-run AD-AS graph showing the effect of a severe drop

Need a tutor's assistance with explaining, how would you approach the following:

1. Draw a short-run AD-AS graph showing the effect of a severe drop in stock prices that decreases households' and businesses' wealth. Indicate the effect on the equilibrium aggregate price level and equilibrium aggregate output. 2. Draw a short-run AD-AS graph showing the effect of a significant decrease in the world supply of oil. Indicate the effect on the equilibrium aggregate price level and equilibrium aggregate output. 3. Draw an AD-AS graph showing a recessionary gap. 4. Draw an AD-AS graph showing an inflationary gap. 5. Draw a graph illustrating short-run macroeconomic equilibrium. 6. Draw a graph illustrating long-run macroeconomic equilibrium.

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