Question $24$Short Answer Question #$2($Required$).$Assume the following about the last three quarters of GDP and the most current $3$ months for inflation and unemployment data in an economy: Real GDP: $1\mathrm{.}7\%,2\mathrm{.}1\%,3\mathrm{.}5\%$ Inflation rate: $5\mathrm{.}7\%,7\mathrm{.}4\%,10\mathrm{.}2\%($price stability occurs at $2\%)$ Unemployment Rate: $3\mathrm{.}1\%,2\mathrm{.}9\%2\mathrm{.}7\%($full employment $-3\mathrm{.}5\%$A$.$ Identify the following: business cycle position, AD AS Model Gap types of unemployment type of inflationB. What is the appropriate Monetary Policy to be used in the Short Run Money Market to resolve this problem?C$.$ What is the impact of the monetary policy used in A on the interest rate, and excess reserves in the loanable funds market?D$.$ How does the result in the loanable funds market impact Aggregate Demand Aggregate Supply Model?