PRICE LEVEL 200 175 150 125 100 75 50 25 0 0 50 100 150 200 250 300 350 400 REAL GDP (Billions of dollars) SRAS₁ Determinant Prices of Nonlabor Inputs Stock of Capital Goods Technology The following table lists several determinants of aggregate supply. Fill in the table by indicating the changes in the determinants necessary to increase aggregate supply. SRAS₂ Improve Change Needed to Increase Short-Run Aggregate Supply
PRICE LEVEL 200 175 150 125 100 75 50 25 0 0 50 100 150 200 250 300 350 400 REAL GDP (Billions of dollars) SRAS₁ Determinant Prices of Nonlabor Inputs Stock of Capital Goods Technology The following table lists several determinants of aggregate supply. Fill in the table by indicating the changes in the determinants necessary to increase aggregate supply. SRAS₂ Improve Change Needed to Increase Short-Run Aggregate Supply
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter24: The Aggregate Demand/aggregate Supply Model
Section: Chapter Questions
Problem 3SCQ: The short run aggregate supply curve was constructed assuming that as the price of outputs...
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