Question: Module 18 Featured Worksheet Aggregate Supply 1. Explain the slope of the SRAS. 2. Graph the following scenarios. a. Worldwide oil and gas prices increase

Module 18 Featured Worksheet

Aggregate Supply

1. Explain the slope of the SRAS.

2. Graph the following scenarios.

a. Worldwide oil and gas prices increase 30%.

b. The nation's expectation of inflation falls by 5%.

c. The nation passes very new strict EPA laws affecting almost all firms.

d. Due to a long recession, workers accept lower nominal wages.

3. Explain the slope of the LRAS curve.

4. Graph an increase in potential output from $18 trillion to $20 trillion.

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