1) How do these things change LRAS?

.New technology makes it easier to find a job after being laid off.

.A higher percentage of the population has a college degree.

.The Fed increases the money supply by buying T-bills.

2) The Laffer Curve demonstrates the idea that tax revenue rises as taxes increase, though it falls once tax rate becomes too high. When setting tax rates, should the government simply pick the highest point on the curve? Why or why not?

3) The expectation-adjusted Phillips curve suggests that inflation is a self-fulfilling prophecy. If people believe there will be inflation, then there will be inflation. How can a government change people's expectations about inflation? What are the consequences associated with those actions?