2.5 determinants of short-run aggregate supply Flashcards

1
Q

what are the main determinants of the short run aggregate supply

A

price level

production costs

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2
Q

what causes movements along the SRAS curve

A

changes in the average price level

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3
Q

what causes shifts of the SRAS curve

A
wage rate 
raw material prices 
business taxation 
productivity 
exchange rates 
supply shocks
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