what-is-the-primary-difference-between-short-run-aggregate-supply-sras-and-long-

Question

What is the primary difference between short run aggregate supply (SRAS) and long run aggregate supply (LRAS)?

Accepted Answer

SRAS is affected by price levels, while LRAS is not.

Answer

SRAS is vertical, while LRAS is upward sloping.

Answer

SRAS is determined by technology, while LRAS is determined by labor.

Answer

SRAS is fixed, while LRAS can shift due to changes in resources.