Question: If there is a permanent decrease in a factor of production then the short run aggregate supply curve shifts to the northwest. The long run

If there is a permanent decrease in a factor of production then the short run aggregate supply curve shifts to the northwest. The long run aggregate supply curve shifts to the

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

If there is a permanent increase in a factor of production, then the short run aggregate supply curve shifts to the Select one: O a. Northwest O b. Southeast O c. Neither A nor B age

39 If there is a permanent decrease in a factor of production, then the short run aggregate supply curve shifts to the northwest. The long run aggregate supply curve shifts to the It of Select one: O...

If there is a permanent decrease in a factor of production, then the short run aggregate supply curve shifts to the northwest. The long run aggregate supply curve shifts to the Select one: O a. Right...

Suppose that exports fall. Which of the following describes how the economy will adjust on its own in the long run ? Nominal wages and other input prices will fall. Consequently, the short run...

How does an increase in inflation expectations impact the short run aggregate supply curve? shifts the aggregate supply curve to the left because firm costs are now expected to be more expensive...

Which one of the following is true? Group of answer choices short run aggregate supply curve shifts left when labor cost decreases short run aggregate supply curve shifts right when labor cost...

In Neoclassical theory the economies ideal level ( as determined by the economy, not government or anyone else ) is represented by: Question 1 9 options: The Short Run Aggregate Supply curve The...

a. Explain the difference between the short run aggregate supply curve and the long run aggregate supply curve. Explain how they are related. b. The price of a 1-year zero-coupon bond is $80. At...

Since 2015, the productivity of a worker in Vietnam has increased by almost 50%. As a result, Only the short run aggregate supply curve shifts to the right. The aggregate demand curve shifts to the...

Multiple choice: 7. The current chairperson of the United States Federal Reserve Bank is: a. Steve Mnuchin, appointed by President Trump b. Janet Yellen, appointed by President Obama c. Ben Bernanke,...

What other steps can Ian and Joe take to facilitate the smooth flow of communication for this project?

Healthcare resources are scarce, and policymakers and health planners make choices between alternative uses of resources. Economic evaluation is important when allocating scarce resources....

How does a currency depreciation affect a nation's balance of trade?

The conceptual anchor that recommends that OB should welcome theories and knowledge from other disciplines in addition to its own research base in the ( blank ) anchor. - systematic research -...

2. There is no simple solution to the distractions that we face in our personal and work lives. Jackson states that the solution to the issue is self-discipline. Many distractions are self-initiated....

3. Is your life filled with too many distractions? If so, analyze what can be done to eliminate the stress and tension (distractions) and make room in your life for more meaningful communication. If...

b. Turn down the volume, uncover the screen, and attempt to identify the style of the same persons, using visual messages only.