that's all the question given.

Using the AS-AD model in your analysis, please explain how the economy behaves if there is a sharp increase in preferences for foreign goods. The economy starts in the long run equilibrium at time t = 0. The preference shock hits the economy at t =1 and dissipates at t = 4. In you answer, please provide a diagrammatic analysis of: 1) how the economy behaves upon impact 2) how it behaves when the shock is present 3) how it behaves when the shock dissipates and after that, assuming that no other shock hits the economy. (You can use one or multiple diagrams.) Please supplement your diagrammatical analysis with an intuitive explanation of why the economy behaves as it does for each step described above. Using the AS-AD model in your analysis, please explain how the economy behaves if there is a sharp increase in preferences for foreign goods. The economy starts in the long run equilibrium at time t = 0. The preference shock hits the economy at t =1 and dissipates at t = 4. In you answer, please provide a diagrammatic analysis of: 1) how the economy behaves upon impact 2) how it behaves when the shock is present 3) how it behaves when the shock dissipates and after that, assuming that no other shock hits the economy. (You can use one or multiple diagrams.) Please supplement your diagrammatical analysis with an intuitive explanation of why the economy behaves as it does for each step described above