Short-Run Aggregate Supply (SRAS)
AP Macroeconomics · Flashcards · Application
AP MACROECONOMICS · FLASHCARDS
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QUESTION
How does a decrease in oil prices affect the SRAS curve?
QUESTION
How does the SRAS curve react to a decrease in input prices?
QUESTION
State the impact of a labor strike on SRAS.
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ANSWER
Shifts SRAS curve to the left. Strikes reduce available labor and output.
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