aq6feb21 - reduces labor force f.A switch of expenditure...

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6 February 2003 Which of the following would decrease [shift to the left] LAS [long-run aggregate supply]? a. An influx of new immigrants of working age – NO, increases b. Technological advance – NO, increases c. Earthquakes that destroy several cities – Yes, reduces capital stock d. Climate change that shortens the growing season – Yes, reduces capacity to produce agricultural products e. The typical worker retiring earlier – Yes,
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Unformatted text preview: reduces labor force f.A switch of expenditure from investment to defense spending – Yes, reduces capital stock over time g. A switch of expenditure from defense spending to investment – NO, would increase capital stock over time h. An unstoppable mutated computer virus that shuts down all networks – Yes, reduces capacity to produce....
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aq6feb21 - reduces labor force f.A switch of expenditure...

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