For the Following Changes in the Economy, Indicate Whether Short-Run

question 155

Essay

For the following changes in the economy, indicate whether short-run aggregate supply or long-run aggregate supply will be affected. Indicate the direction of the change.
a.an improvement in manufacturing technology
b.an increase in the world price of antimony (a chemical that the U.S. imports)
c.a bumper potato crop in the southern "potato belt"

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Definitions:

Mild Depression

A less severe form of depression where individuals may experience persistent sadness, hopelessness, and lack of interest or pleasure in daily activities, but are still able to function.

L-tryptophan

An essential amino acid used by the body to help make proteins and certain brain-signaling chemicals, including serotonin.

Premenstrual Dysphoric Disorder

A disorder marked by repeated experiences of significant depression and related symptoms during the week before menstruation.

Diagnosis

A determination that a person’s problems reflect a particular disorder.