1. What is the short run aggregate supply (SRAS) curve upward sloping?
2. What does short run equilibrium tell us?
3.Create a chart just as your did for AD identifying each factor affecting SRAS, defining each, and illustrating how a change in each factor would cause an increase or decrease in SRAS.
Be prepared for a test on this economic model including AD, LRAS, and SRAS on Thursday or Friday. No notes.
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