What can lead to the shift illustrated in the figure above?
What will be an ideal response?
A decrease in the money wage rate or in the money prices of other resources, such as the price of oil, increase aggregate supply and shift the AS curve rightward while not changing potential GDP.
Economics
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Which of the following costs of publishing a book is a fixed cost?
a. author royalties of 5% per book b. the costs of paper and binding c. shipping and postage expenses d. composition, typesetting, and jacket design for the book
Economics
If the price level increased from 120 to 144, then what was the inflation rate?
a. 24 percent. b. 25 percent. c. 20 percent. d. 17 percent.
Economics