MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
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Chapter P1, Problem 6KC
To determine
The
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Concept: Technological Progress/LRAS
Suppose an economy experiences technological progress and this causes a shift in the LRAS curve.
Which of the following should not occur?
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OA. There will be reduced pressure on prices as the economy has the ability to produce more real GDP
OB. There should be a shift to the right in the SRAS curve because the increased technology reduces the cost of producing goods in the economy.
OC. There will be an increase in government purchases as the economy has more income
OD. There should be an increase in the amount of income which will cause an increase in AD
Subject:21st century
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please answer in paragraphs, thank you for your time!
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