The graph shows a hypothetical aggregate demand (AD) curve, short-run aggregate supply (SRAS) curve, and long-run aggregate supply (LRAS) curve for the U.S. economy in April 2022. PRICE LEVEL 150 130 110 90 70 AD 20 AS 22 24 26 28 30 QUANTITY OF OUTPUT (Trillions of dollars! If no policy action is taken, then in the long-run the price level in the U.S. economy will be. 100; 26 120, 24 LRAS 110,25 100; 24 and the aggregate output level will be,

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