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Aggregate Supply & Demand

Across
The effect that goes away in the Long-Run.
Changes that cause a movement along the AS curve.
Economic growth causes this curve to shift.
The effect when producers are fooled into producing more, when their product's prices increase.
Factor that causes a shift in SRAS & LRAS.
When all 3 curves meet = __ __ Equilibrium.
The economy is always operating at this equilibrium.
These prices can change.
The slope of the LRAS curve.
Down
How the SRAS curve is sloped.
An unexpected event that suddenly changes the supply of a commodity.
When SR = Natural Rate of Output, it is also __ __ Equilibrium.
SRAS' relationship with the price level.
If the price of inputs goes up, the cost of producing the good __.
When the price level rises & input prices don't rise yet in the short-run, so firms earn more profit; producing more.
Natural Rate of Output = __ __ Aggregate Supply
Temporary Supply Shock & Input Price Changes, are factors that shift only this curve.
These prices are fixed in the short-run.