4. Economic activity continually fluctuates around trend values. Analyzing these deviations is the focus of the short run in economics. a) What is meant by sticky wages and how can they explain the slope of the short Run Aggregate Supply curve. b) Explain why the slope of the Long Run Aggregate Supply curve is different from the short Run Aggregate Supply curve. c) What is the Interest Rate Effect and how does it help us understand the slope of the Aggregate Demand curve? d) How would you expect an increase in Government spending through President Biden's Build Back Better plan (or other such plans) impact the Aggregate Demand curve? Do you believe inflation would increase / decrease or remain unchanged following the enactment of such a plan? Use appropriate charts to support your claim.