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Author Question: What are the factors that can shift the short-run aggregate supply curve but not the long-run ... (Read 87 times)

mynx

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on: Jun 29, 2018
What are the factors that can shift the short-run aggregate supply curve but not the long-run aggregate supply curve? Explain your answer.
 
  What will be an ideal response?

Question 2

If Ringo is risk averse, at a wealth of 200,000 his utility of wealth curve has a ________ slope and his marginal utility of wealth is ________ than at a wealth of 100,000.
 
  A) negative; smaller
  B) negative; larger
  C) positive; smaller
  D) positive; larger


rachel

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The only factor that shifts the short-run aggregate supply curve but not the long-run aggregate supply curve is a change in the money wage rate or the money prices of other resources. For instance, an increase in the money wage rate shifts the SAS curve leftward, but does not shift the LAS curve.

Answer to Question 2

C


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