Topic: The Aggregate Supply Curve
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Answers to Common Questions
What factors shift aggregate supply curve?
-an increase/decrease in government purchases-a reduction/increase in taxes-an increase/decrease in investor confidence-foreigners develop/lose a taste for American goods or aMericans develop/lose their taste for foreign goods-increase/decr... Read More »
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What is Aggregate Supply?
Aggregate supply is the total amount of a product produced nationally in a certain period of time. It is important to the study of macroeconomics of a country. Read More »
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Why is the long-run aggregate supply LRAS curve vertical?
The Long-Run Aggregate Supply Curve is vertical at full-employment GDP with respect to the price level. In the long-run the quantity of output supplied depends on the economy's resource endowment, technology, and its governing institutions.... Read More »
Source: http://wiki.answers.com/Q/Why_is_the_long-run_aggregate_supply_LR...
More Common Questions
Answers to Other Common Questions
A contraction, or shift to the left can be caused by a negative change in: The price level. The level of technology in an economy. The size of a labour force and its skills. The amount and state of capital equipment. The skill of management...
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ask your mom!
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Because as the price goes up, producers find that production of the good in relation to other goods is more profitable... There is a mathematical proof out there but it escapes me right now.
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The reasoning used to construct the aggregate supply curve, differs from the reasoning used to construct the supply curves, More?
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The 3 determinants of the Aggregate Supply curve are: Keynesian, Intermediate, and Classical.
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As price increases, the quantity supplied will also increase, and the short run aggregate supply curve will then increase.
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Aggregate supply is a macroeconomic term used to describe the amount of goods and services produced within a country or region during a certain time period. Aggregate supply depends on factors including employment, productivity, inflation a...
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Source: http://www.ehow.com/how_7214539_calculate-aggregate-supply.html?r...
