PART (a): [3 Marks]. Consider an economy that is initially settled in equilibrium at point A in the diagram given below. The economy is then hit by an adverse supply shock, and goes into recession. P LRAS \" A ms. AD Y Y2 Y In the diagram above, LRAS denotes long-run aggregate supply curve, SRAS: short-run aggregate supply curve, AD: aggregate demand curve, P: price level and Y: output (income). Use this diagram and Wthe central bank's policy response to adverse supply shock in the following two scenarios. Scenario-1: Central bank's policy response if it cares only about keeping the price level stable. [N0te: No need to draw another diagram. Instead, refer to the existing diagram above to answer the question]. Scenario-2: Central bank's policy response if it cares only about keeping output (income) and employment at their natural levels. [Note: No need to draw another diagram. Instead, refer to the existing diagram above to answer the question]