The level of aggregate supply in the long-run is not affected by:_____

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  1. The level of aggregate supply in the long-run is not affected by:
    a) changes in technology.
    b) changes in the capital stock.
    c) changes in the price level.
    d) changes in the number of workers.

  2. Changes in the price level
    a) increase the level of aggregate supply in the long run.
    b) decrease the level of aggregate supply in the long run.
    c) do not affect the level of aggregate supply in the long run.
    d) increase the level of aggregate supply in the long run only at very high levels of output.

  3. The long-run aggregate supply curve will shift to the right if the economy
    a) experiences technological change.
    b) has a decrease in population.
    c) experiences high levels of inflation.
    d) net exports decrease.

  4. An increase in the price level will
    a) shift the short-run aggregate supply curve to the left.
    b) shift the short-run aggregate supply curve to the right.
    c) move the economy up along a stationary short-run aggregate supply curve.
    d) move the economy down along a stationary short-run aggregate supply curve.

  5. Which of the following would cause the short-run aggregate supply curve to shift to the right?
    a) an increase in the price level
    b) a decrease in inflation expectations
    c) a technological advance
    d) an increase in interest rates