LRAS Flashcards by charlie LEWIS

Q

What’s does lras show

A

The potential output of an economy

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Why would LRAS shift

A

Changes in productivity

Changes in quantity of resources

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

what is aggregate supply

A

Measures the volume of goods and services produced within the economy at a given price level

How well did you know this?

1

Not at all

2

3

4

5

Perfectly