Indicate whether each of the following events will increase, decrease, or have no effect on long-run aggregate supply (LRAS). Event Effect on LRAS Many workers leave the United States for employment opportunities in Asia. Congress limits the work week to 40 hours. The United States closes itself to international trade. A severe hurricane damages factories along the East Coast.
Indicate whether each of the following events will increase, decrease, or have no effect on long-run aggregate supply (LRAS). Event Effect on LRAS Many workers leave the United States for employment opportunities in Asia. Congress limits the work week to 40 hours. The United States closes itself to international trade. A severe hurricane damages factories along the East Coast.
Chapter20: Aggregate Demand And Supply
Section20.A: The Self Correcting Aggregate Demand And Supply Model
Problem 3SQ
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Indicate whether each of the following events will increase, decrease, or have no effect on long-run
Event
|
Effect on LRAS
|
---|---|
Many workers leave the United States for employment opportunities in Asia. | |
Congress limits the work week to 40 hours. | |
The United States closes itself to international trade. | |
A severe hurricane damages factories along the East Coast. |
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