The table below shows aggregate demand and aggregate supply schedules $in$ a hypothetical economy, Acadia.

$a.$ Draw a graph showing Acadia's $A{D}_0,A{D}_1,A{S}_0$ and $A{S}_1.$ Using the tools given below plot only the endpoints $of$ the demand curves $A{D}_0$ and $A{D}_1.$ Plot

all $5$ points for each supply curve, $A{S}_0$ and $A{S}_1.b.$ Initially $A{D}_0$ and $A{S}_O$ are the relevant schedules.

The equilibrium price level $is$

and equilibrium real output $is$ $$|$

billion.

$If$ the price level $is120$ then real output $is$ $$,$ billion, real expenditures are $$A{D}_{0}toA{D}_1$ while aggregate supply remains $atA{S}_0.$

Aggregate demand has undergone $a(n)$ increase

$.As$ a result the equilibrium price level

$A{S}_{0}toA{S}_1,$ while aggregate demand remains $atA{D}_0.$

Aggregate supply has undergone a long$-$run increase

$.As$ a result the equilibrium price level

and has a value $of$

while equilibrium real output $ii$

and has a value $of$ $$|$

billion.