Sort the following events by their impact on the U.S. economy. Determine whether each event shifts...

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Sort the following events by their impact on the U.S. economy. Determine whether each event shifts only the short-run aggregate supply (SRAS) curve, both the SRAS curve and the long-run aggregate supply (LRAS) curve, or neither. Items (5 items) (Drag and drop'into the appropriate area below) Canada cuts oil exports from the Alberta oil sands pending the outcome of an environmental review. Incomes in the United States increase by 5% in real terms. A milder-than- usual winter produces a bumper citrus crop in Florida. An innovation in irrigation makes U.S. farms more productive. A new oil field is discovered just off the coast of Oregon, significantly increasing the national supply of oil. Shifts: SRAS only LRAS and SRAS Neither Sort the following events by their impact on the U.S. economy. Determine whether each event shifts only the short-run aggregate supply (SRAS) curve, both the SRAS curve and the long-run aggregate supply (LRAS) curve, or neither. Items (5 items) (Drag and drop'into the appropriate area below) Canada cuts oil exports from the Alberta oil sands pending the outcome of an environmental review. Incomes in the United States increase by 5% in real terms. A milder-than- usual winter produces a bumper citrus crop in Florida. An innovation in irrigation makes U.S. farms more productive. A new oil field is discovered just off the coast of Oregon, significantly increasing the national supply of oil. Shifts: SRAS only LRAS and SRAS Neither

Answer rating: 100% (QA)

1 Canada cuts oil exports SRAS only Explanation As oil supply falls oil price rises inc... View the full answer