Explain How Each of the Following Events Would Affect the Long-Run

question 23

Essay

Explain how each of the following events would affect the long-run aggregate supply curve.
a.A lower price level.
b.A decrease in the labour force.
c.A decrease in the quantity of capital goods.
d.Technological change.
_____________________________________________________________________________________________
_____________________________________________________________________________________________

---

Definitions:

Agreeableness

A personality trait typified by compassion, cooperativeness, and a harmonious attitude toward others.

Antagonism

Hostility or opposition between individuals or groups, often resulting in conflict or resistance.

Trait Domains

Categories or clusters of personality traits that share similar characteristics or themes.

Avoidant

A personality trait characterized by a persistent pattern of avoiding social interaction and minimizing social contact due to fear of rejection, criticism, or disapproval.