Attempts Average:/1 7. Determinants of short-run aggregate supply The following

Question

Attempts Average:/1 7. Determinants of short-run aggregate supply The following graph shows an increase in short-run aggregate supply (AS) in a hypothetical economy where the currency is the dollar. Specifically, the short-run aggregate supply curve shifts to the right from as, to As, causing the quantity of output supplied at a price level of 100 to rise from $200 billion to $250 billion 200 175 AS 150 125 100 75 50 25 0 50 00 200 250 300 350 400 QUANTITY OF OUTPUT The following table lists several determinants of short-run aggregate supply. Fill in the table by indicating the changes in the determinants necessary to increase short- run aggregate supply. Change Needed to Increase As Input prices Human capital Grade It Now Save & Continue

Explanation / Answer

To shift AS curve to the right following changes are needed

Input prices - decreases

Human capital - increases

Burdensome regulation - decreases

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