The table below shows aggregate demand and aggregate supply schedules 'In a hypothetical economy. Real GDP Price Level 2007 = 100] [200? $ billions] 140 240 270 130 260 260 120 280 230 110 300 200 100 320 a. Draw a graph showing ADO, AD1, ASo and AS1. Using the tools given below plot only the endpoints of the demand curves ADo and AD1. Plot all 5 points for each supply curve, ASo and AS1. A Aggregate Demand and Supply for a hypothetical economy ADo 150 -1 AD1 140- ASD 130- 120- AS1 Price Level (GDP deflator 2007 = 100) 110 - 100 - 90 - 80 350 100 150 200 250 300 Real GDP (2007 $ billion)b. Initially ADO and A50 are the relevant schedules. The equilibrium price level is and equilibrium real output is 35 billion. lfthe price level is 140 then real outputis $ |:| billion, real expenditures are 5- |:| billion, and there is an unintended increase v in inventories. This pushes the price level lfthe price level is 110 then real output is 5 billion, decrease v in inventories. This pushes the price level :2. Now aggregate demand shifts from ADO to AD1 while aggregate supply remains at A50. while equilibrium real output d own V _ \"lJ real expenditure V sare$ billion, and there is an unintended Aggregate demand has undergone aln] . As a result the equilibrium price level increases while equilibrium real output and has a value of$ billion. d. Now aggregate supply shifts from A50 to A51, while aggregate demand remains at ADO. Aggregate supply has undergone a _ As a result the equilibrium price level and has a value of v and has a value of$ billion. V and has a value of