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1- List three reasons the LRAS curve would shift to the right?

1- List three reasons the LRAS curve would shift to the right?

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Answer #1

1.

Since the long-run aggregate supply curve is a vertical line and it is based on the assumptions that wages of labor and costs of inputs are affected by the change in the output price level.

There will be change in the long-run aggregate supply curve when there are

1.

New natural resources are found or innovation of the technology. Hence it can be said that developing new technologies is designed to increase the long-run aggregate supply curve. Hence LRAS curve shifts rightward.

2.

When the number of labor increase in the economy, then also LRAS curve shifts rightward.

3.

When new natural source has been discovered in the country, so production of goods will increase. Hence, LRAS curve shifts rightward.

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