Explain whether each of the following events would cause a movement along or a s

Question

Explain whether each of the following events would cause a movement along or a shift in the position of the LRAS curve, other things being equal. In each case, explain the direction for the movement along the curve or shift in its position. a.) Last year, business invested in new capitalequipment, so this yeart the natio's capital stock is higher that it was last year. b.) There has been an 8 percent incese in the quantity of money in circulation that has shifted the AD curve. c.) a hurricane of unprecedented strength has damaged oil rigs, factories, and ports all along the nation's coast. d.) Inflation has occured during the past yeat as a result of rightward shifts of the AD curve.

Explanation / Answer

Last year, business invested in new capital equipment, so this year the nation

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