(7) Aggregate Supply Flashcards
1
Q
What factors will shift AS to the right
A
⚫️cheaper imported materials
⚫️better technology
⚫️lower benefits
⚫️NMW
⚫️more capital
⚫️lower rates of interest
⚫️greater population of working ager
2
Q
What does AS mean
A
⚫️total of all planned production
➡️in an economy
➡️at each price level
⚫️vertical part of AS curve
➡️represents capacity of the economy
