Describe, in depth, the path this economy will take on its way toward long-run equilibrium. (Include time profiles of the key variables).

Here is the problem with the work I have so far. I want the chart below filled out. of the price adjustment mechanism.

1. Consider the following economy 

C = 300 + .56 Y

I = 1000 – 500 R

G = G

NX = 400 – .1 Y – 300 R

M_d /P = .05 Y – 1000 R

M_s = M

П_t = 1.8 ((Y_t-1 – 6000)/6000)

1. Derive the IS, LM, and AD curves.

IS Function r= 1700+G/800-.054/800Y

LM Function r= .05/1000Y-1/1000(m/p)

AD Function y= 1/2.9(3500+5G+4m/p)

1. If G = 1500, M = 1000, and P = 1, calculate the equilibrium values of Y, C, I, R, and NX.

1. Describe, in depth, the path this economy will take on its way toward long-run equilibrium. (Include time profiles of the key variables).