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Question: please clearly label the graphs thank you...

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6. Keynesian demand-side versus supply-side effects Consider an economy operating below its full-employment output level. The government wants to enact a reduction in income taxes in an effort to restore the economy to full-employment output. On the graph that follows, shift one of the curves to illustrate the impact of the income tax cut on aggregate supply (AS) and aggregate demand (AD) that is emphasized by Keynesian economists. Note: Selct and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther.On the graph that follows, shift one of the curves to illustrate the dominant impact of the income tax cut according to supply-side economists. SRA AD SRAS AD REAL GDP (Billions of dollars)Use the dropdown menus to fill in the following table to complete the causation chains for the Keynesian effects and supply-side effects of the income tax cut. Supply-side Policy Income tax cut Increases the supply of labor Keynesian Policy 1. 2. 3. 4. 1. Income tax cut 2. Increases consumption spending 3. aggregate aggregate and the price level and the price level Real GDP ▼ 4, Real GDPUse the dropdown menus to fill in the following table to complete the causation chains for the Keynesian effects and supply-side effects of the income tax cut. Keynesian Policy Income tax cut Increases consumption spending Decreases Policy 1. 2. 3. 4. Real GDP ut 1. 2. 3. 4. Increases supply of labor aggregate aggregate and the price level Real GDP and the price levelUse the dropdown menus to fll in the following table to complete the causation chains for the Keynesian effects and supply-side effects of the income tax cut. Supply-side Policy Keynesian Policy Income tax cut Increases consumption spending supply 1. Income tax cut 2. Increases the supply of labo 3. 4. Real GDP 1. 2. 3. 4. demand aggregate aggregate and the price level and the price level Real GDPPlease clearly label the graphs. Thank you:)

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