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Synthesize how a simultaneous increase in labor force and technological advancements would affect the LRAS curve.
How do technological advancements typically affect the LRAS curve?
What role do natural resources play in determining long run aggregate supply?
Analyze the potential economic outcome if a country loses access to a major natural resource due to geopolitical tensions.
A country closes several outdated factories and replaces them with modern, efficient ones. How is the LRAS curve likely to be affected?
Synthesize the effects of a nationwide policy that provides free higher education on the LRAS curve.
Which of the following is NOT a factor of production that determines potential real GDP in the long run?
What is the likely effect on the LRAS curve if a country experiences a significant technological advancement?
Evaluate the impact on the LRAS curve if a country loses access to a significant portion of its natural resources due to environmental regulations.
Evaluate why the LRAS curve is represented as a vertical line in the AD-AS model.