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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Name some factors that could cause the SRAS curve to shift, and say whether they would shift SRAS to the right or to the left.

To determine

Factors which affect SRAS curve are to be determined.

Explanation

Factors which affect SRAS curve:

Productivity Growth:

Short-run aggregate supply curve is affected by productivity growth. Productivity growth means same level of input produces higher level of output. As productivity increases, it leads to higher output, i.e. same level of input of production but more output of production. This results in rightward shift in SRAS curve.

Price of Inputs:

Inputs are factor of production, i.e. land,labor,capital and entrepreneurship...

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