Multiple Choice
Which one, if any, of the following events shift the short- run aggregate supply curve but not the long- run aggregate supply curve?
A) a catastrophic event such as a tornado or hurricane
B) a change in the quantity of capital
C) an advance in technology
D) a change in factor prices
E) an increase in the full- employment quantity of labour
Correct Answer:

Verified
Correct Answer:
Verified
Q1: Consider an economy starting from a position
Q2: We observe a decrease in the price
Q3: If the price level rises, then the
Q5: Everything else remaining the same, an increase
Q6: A technological advance shifts the<br>A)SAS and LAS
Q7: If real GDP is greater than potential
Q8: Classical macroeconomists recommend<br>A)policies that actively offset changes
Q9: Use the table below to answer the
Q10: If real GDP is greater than potential
Q11: A vertical long- run aggregate supply curve