The economy of Country X is at full employment.
(a) Draw a correctly labeled graph of the long-run aggregate
supply, short-run aggregate supply, and aggregate demand curves,
and show each of the following.
(i) Current price level, labeled PL1
(ii) Current real output, labeled Y1
(b) Assume that household income increases as a result of recent
economic prosperity in Country X. On your graph in part (a), show
the effect of the increase in household income on real output and
price level....