Make a list of things that would shift the long-run aggregate supply curve to the right
Examples in the text (or variations) include increased immigration, a decrease in the minimum wage, less generous unemployment insurance, an increase in the capital stock, an increase in the average level of education, a discovery of new mineral deposits, advances in technology, and removal of barriers to international trade.
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An increase in real GDP affects the demand for money because
A) tax payments rise because more income is earned. B) there is an inverse relationship between the quantity money demanded and nominal GDP. C) at the higher price level, it takes more dollars to make expenditures. D) when real GDP increases, more money is needed to make expenditures. E) the larger real GDP, the higher the real interest rate.
The "short run" may vary in length from industry to industry
a. True b. False