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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 |