Answer the following statement(s) true (T) or false (F)

1. The long-run equilibrium level is where the economy will settle when undisturbed.
2. Changes in the stock of capital will alter the amount of goods and services the economy can produce.
3. In recent history, computers and specialized software shifted the short-run aggregate supply curve leftward.
4. Japan’s aging workforce has shifted that nation’s long-run aggregate supply curve rightward.
5. The short-run equilibrium level of real output and the price level are given by the intersection of the aggregate demand curve and the short-run aggregate supply curve.

1. True
2. True
3. False
4. False
5. True