For this question, you will be drawing and labelling an AD and AS graph. Make sure the graph is clear and easy to see an

[answerhappygod]

For this question, you will be drawing and labelling an AD and
AS graph. Make sure the graph is clear and easy to see and
read. Marks can be deducted due to issues with reading
information from the graph.
PLEASE DRAW ALL GRAPHS AND ANSWER ALL QUESTIONS
(a-c)
a) Draw a properly labelled AD and AS model showing an
“overheating” economy. Make sure to identify our current level
of GDP and CPI.
b) In your graph from 5a, make sure to identify the point
of full employment’s GDP level and either the inflationary or
recessionary gap.
c) Should the government run a surplus, deficit or balanced
budget to correct our economy? Why? Which curve (AD or AS)
would be affected and in which way?