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Use the following graph to answer the following questions.The graph depicts an economy where aggregate demand and long-run aggregate supply (LRAS) have decreased,with no change in short-run aggregate supply (SRAS) .
-In the graph,we see that long-run aggregate supply decreased during the Great Recession.This was due to a decline in housing prices and the subsequent financial crisis.Why did these factors cause long-run aggregate supply to decrease?
Neandertals
An extinct species of humans who lived in Eurasia until approximately 40,000 years ago, known for their robust build and large brain capacity.
Earliest Primates
The initial members of the primate order, dating back to the Paleocene epoch, ancestral to modern primates including humans, apes, monkeys, and prosimians.
Bipedalism
The ability to walk upright on two legs, a key feature in human evolution.
Savannah Environment
A landscape characterized by open grasslands with scattered trees, often found in Africa, which supports a diverse ecosystem including many grazing animals and predators.
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