Question: Consider the variables that shift long-run aggregate supply and the variables that shift short-run aggregate supply. Match each of the following scenarios with one of

Consider the variables that shift long-run aggregate supply and the variables that shift short-run aggregate supply. Match each of the following scenarios with one of the three graphs of long-run aggregate supply and short-run aggregate supply.

a. The expected future price level decreases.
b. Workers and firms adjust to having previously underestimated the price level
c. A positive technological change occurs.

LRAS, LRAS2 Price level SRAS, SRAS2 Real GDP 2. Price lovel LRAS SRAS2 SRAS, Real GDP 3. LRAS Price level SRAS, SRAS, Real GDP

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