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C719
Module 13
| Question | Answer |
|---|---|
| An increase in capital LRAS & SRAS | shifts right |
| A decrease in the cost of production SRAS | shifts right |
| Growth in human capital LRAS & SRAS | shifts right |
| Resources are destroyed by a natural disaster LRAS & SRAS | shifts left |
| An increase in the price of oil SRAS | shifts left |
| Deregulation lowers the cost of productions RAS | shifts right |
| Facebook reduces the productivity of labor LRAS & SRAS | shifts left |
| The wages paid to workers falls SRAS | shifts right |
| The price of electricity falls SRAS | shifts right |
| A temporary increase in marginal tax rates SRAS | shifts left |
| The price of oil decreases SRAS | shifts right |
| Regulations increase the cost of production SRAS | shifts left |
| LRAS & SRAS shift left → Price level _____________ / Real GDP _____________ | Increases / Decreases |
| LRAS & SRAS shift right → Price level _____________ / Real GDP _____________ | Decreases / Increases |
| SRAS shift left → Price level _____________ / Real GDP _____________ | Increases / Decreases |
| SRAS shift right → Price level _____________ / Real GDP _____________ | Decreases / Increases |