Describe and show the shift factors in the SAS curve? Include how each relate to both...
Describe and show the shift factors in the SAS curve? Include how each relate to both increases and a decrease in SAS.
Homework Answers
Factors that shift the short aggregate supply curve:
1.Labour costs(wages)-As Labour cost falls,the AS shifts to the right.
If labour cost rises,the AS shifts to the left.
2.Cost of production-Price of raw materials.
As cost of production rises,the AS shifts to the left.
As cost of production falls,the AS shifts to the right.
3.Technology-With improvement in technology the AS shifts to the right.
4.Government policies-Taxation.
With rise in tax rate the cost of production rises.AS shifta to the left.
If tax rate falls then AS shifts to the right.
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Describe and show the shift factors in the SAS curve? Include
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