Factors shifting both the SRAS and LRAS.
Will each of the following cause a shift of the long run aggregate supply curve or a movement along the LRAS curve?
a. The price level increases.
Because this is a change in ______________________. The LRAS curve will ______________.
b. The labor force increases.
Because this is a change in ______________________. The LRAS will ______________.
c. There is an increase in the quality of capital goods.
Because this is a change in ______________________. The LRAS will ______________.
d. Technological change occurs.
Because this is a change in ______________________. The LRAS will ______________.