Explain how each of the following events would affect the long-run aggregate supply curve
a. A lower price level
b. A decrease in the labor force
c. A decrease in the quantity of capital goods
d. Technological change
a. A lower price level would cause a movement along the long-run aggregate supply curve.
b. A decrease in the labor force would cause the long-run aggregate supply curve to shift to the left.
c. A decrease in the quantity of capital goods would cause the long-run aggregate supply curve to shift to the left.
d. Technological change would cause the long-run aggregate supply curve to shift to the right.
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