The economy begins in long-run equilibrium. Then one day the president appoints

The economy begins in long-run
equilibrium. Then one day the president appoints a new chairman of
the Federal Reserve. This new chairman is well-known for his view
that inflation is not a major problem for an economy.
A.)How would this news affect
the price level that people would expect to prevail?B.)How would this change in the
expected price level affect the nominal wage that workers and firms
agree to in their new labor contracts?
C.)How would this change in the
nominal wage affect the profitability of producing goods and services
at any given price level?D.)How does this change in
profitability affect the short-run aggregate-supply curve?E.)If aggregate demand is held
constant how affect the price level and the quantity of output
produced?F.)Do you think this Fed
chairman was a good appointment?