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Explain the slope of the LR
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- Which of the following would be most likely to produce a rightward shift in the long run aggregate supply curve (LAS)? a) a decrease in the quantity of oil b) an increase in the quantity and skills of the labour force c) an increase in input prices d) a decrease in the productivity of landExplain the slope of the SR aggregate supply schedule. Explain how the SR aggregate supply schedule shifts over time.If the short-run aggregate supply curve (SRAS) is horizontal, then an increase in aggregate demand leads to:
- The aggregate supply curve (short run) is upward-sloping because ______Which of the following would be most likely to produce a leftward shift of the aggregate demand (AD) curve? a) an increase in exports b) an increase in energy costs c) a decrease in imports d) a decrease in government expenditureDiscuss the various factors affect aggregate supply curve shift.