The graph below shows the Long-Run Aggregate Supply Curves (LRAS) for Mexico.
Graphing window shows horizontal axis: 0 to 1200, vertical axis: 0 to 1200. Start Graph, Color black
x
y
200
-15
200
1215
Start Graph, Color red
x
y
400
-15
400
1215
Label "Real GDP" at pixel coordinates (175,0).Label "Price Level" at pixel coordinates (0,170).Label "LRAS1" at (x=200,11). Label "LRAS2" at (x=400,11).
What event could shift LRAS from LRAS1 (black color) to LRAS2 (red color) in Mexico?
Increase in capital.
What event allows for increased production?
The graph below shows the Long-Run Aggregate Supply Curves (LRAS) for Canada.
Graphing window shows horizontal axis: 0 to 1200, vertical axis: 0 to 1200. Start Graph, Color black
x
y
650
-15
650
1215
Start Graph, Color red
x
y
850
-15
850
1215
Label "Real GDP" at pixel coordinates (175,0).Label "Price Level" at pixel coordinates (0,170).Label "LRAS1" at (x=650,11). Label "LRAS2" at (x=850,11).
What event could shift LRAS from LRAS1 (black color) to LRAS2 (red color) in Canada?
Better technology
What event will allow for greater production?
The graph below shows Long-Run Aggregate Supply Curves (LRAS) for Norway.
Graphing window shows horizontal axis: 0 to 1200, vertical axis: 0 to 1200. Start Graph, Color black
x
y
550
-15
550
1215
Start Graph, Color red
x
y
750
-15
750
1215
Label "Real GDP" at pixel coordinates (175,0).Label "Price Level" at pixel coordinates (0,170).Label "LRAS1" at (x=550,11). Label "LRAS2" at (x=750,11).
What event could shift LRAS from LRAS1 (black color) to LRAS2 (red color) in Norway?
Increase in immigration.
What event will allow for greater production?
The graph below shows the Long-Run Aggregate Supply Curves (LRAS) for the US.
Graphing window shows horizontal axis: 0 to 1200, vertical axis: 0 to 1200. Start Graph, Color black
x
y
750
-15
750
1215
Start Graph, Color red
x
y
950
-15
950
1215
Label "Real GDP" at pixel coordinates (175,0).Label "Price Level" at pixel coordinates (0,170).Label "LRAS1" at (x=750,11). Label "LRAS2" at (x=950,11).
What event could shift LRAS from LRAS1 (black color) to LRAS2 (red color) in the US?
Increase in fertility rate.
What event will allow for greater production?
The graph below shows the Long-Run Aggregate Supply Curves (LRAS) for the US.
Graphing window shows horizontal axis: 0 to 1200, vertical axis: 0 to 1200. Start Graph, Color black
x
y
200
-15
200
1215
Start Graph, Color red
x
y
400
-15
400
1215
Label "Real GDP" at pixel coordinates (175,0).Label "Price Level" at pixel coordinates (0,170).Label "LRAS1" at (x=200,11). Label "LRAS2" at (x=400,11).
What event could shift LRAS from LRAS1 (black color) to LRAS2 (red color) in the US?
Increase in free public higher education.
What event will allow for greater production?
The graph below shows the Long-Run Aggregate Supply Curves (LRAS) for Slovenia.
Graphing window shows horizontal axis: 0 to 1200, vertical axis: 0 to 1200. Start Graph, Color black
x
y
400
-15
400
1215
Start Graph, Color red
x
y
600
-15
600
1215
Label "Real GDP" at pixel coordinates (175,0).Label "Price Level" at pixel coordinates (0,170).Label "LRAS1" at (x=400,11). Label "LRAS2" at (x=600,11).
What event could shift LRAS from LRAS1 (black color) to LRAS2 (red color) in Slovenia?