Indicate whether each of the following events will increase, decrease, or have no effect on long-run aggregate supply (LRAS). Event Effect on LRAS Many workers leave the United States for employment opportunities in Asia. Congress limits the work week to 40 hours. The United States closes itself to international trade. A severe hurricane damages factories along the East Coast.
Indicate whether each of the following events will increase, decrease, or have no effect on long-run aggregate supply (LRAS). Event Effect on LRAS Many workers leave the United States for employment opportunities in Asia. Congress limits the work week to 40 hours. The United States closes itself to international trade. A severe hurricane damages factories along the East Coast.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter8: Aggregate Demand And Aggregate Supply
Section: Chapter Questions
Problem 15QP
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Question
Indicate whether each of the following events will increase, decrease, or have no effect on long-run
Event
|
Effect on LRAS
|
---|---|
Many workers leave the United States for employment opportunities in Asia. | |
Congress limits the work week to 40 hours. | |
The United States closes itself to international trade. | |
A severe hurricane damages factories along the East Coast. |
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