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7 questions on "The AD-AS Model - Long Run Macroeconomic Equilibrium"

What do we call I when the point of short run equilibrium AD and short run equilibrium AS is on the long run aggregate supply curve? And describe what it is?

We call it the Long run macroeconomic equilibrium
it is the intersection of all three curves the LRAS, SRAS, and, AD
short run equilibrium is equal to potential output

What happens when there is a sudden worsening of business, and bad consumer expectations? What gap do we call this event? And what does it mean?

The aggregate demand falls, and shifts leftward
this leads to a lower equilibrium aggregate price level at and a lower equilibrium aggregate price level
so it settles at the short run equilibrium E2
but this point is below output so the economy is facing a recessionary gap
recessionary gap occurs when there is high unemployment

What happens during a recessionary gap? What happens to

The economy face high unemployment,
nominal wages fall
producers then increase output, because of reduced costs
leading to a shift of the SRAS curve to shift to the right until the economy get back to E3 or the long run equilibrium

What happens when there is a sudden improvement of business, and good consumer expectations? What gap do we call this event? And what does it mean?

There will be an increase in aggregate demand
initially we have the short run aggregate supply curve that is at the LR macroeconomic equilibrium
now the AD rises and the AD curve shifts to the right
leading to a higher aggregate price level and a higher aggregate output level
the new short run aggregate output is now above the potential output
now unemployment is low and the price level is high, so there is an inflationary Gap

What happens after an inflationary gap?

As there is low unemployment, nominal wages will rise as will other sticky prices.
the inflationary gap causes the short run aggregate supply curve to shift gradually to the left as producers reduce output, because of higher nominal wages
bringing the economy through leftward shifts of the SRAS curve to a new position where AD= AS=LRAS where all three intersect at E3
at E3 the economy is back in the Long run macroeconomic equilibrium

What is the tool used to determine how the economy responds recessionary and inflationary gaps. And how do we describe it? And what is the formula? Where does this tool always tend to go back to?

he tool used to determine how the economy responds recessionary and inflationary gaps is called the output gap
the output Gao is the difference between actual aggregate output and potential output
(actual aggregate output - potential aggregate output)/ potential output)*100
the output gap always tends to go back towards zero

What do we call the process in the long run that makes the output gap always zero? So what can we say about output in the short run and in the long run?