In the Keynesian framework, which of the following events might cause a recession? Which might causeinflation? Sketch AD/AS diagrams to illustrate your answers.a. A large increase in the price of the homes people own.b. Rapid growth in the economy of a major trading partner.c. The development of a major new technology offers profitable opportunities for business.d. The interest rate rises.e. The good imported from a major trading partner become much less expensive.

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