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vovangra [49]
3 years ago
7

Indicate whether the scenarios would result in an increase, a decrease, or no change in the long-run aggregate supply (LRAS) cur

ve for a hypothetical economy. Each label may be used more than once.1. The mandatory retirement age in Wonkaland is abolished. 2. Wonkaland's main export is candy. Candy from this country increases in popularity as consumers all over the world want to buy Wonkalandian candy. 3. Since candy from Wonkaland has become an international sensation, factories in Wonkaland double the number of candy making machines. 4. The top candy companies in Wonkaland chose to relocate their means of production to other countries around the world.
Business
1 answer:
Anastaziya [24]3 years ago
4 0

Answer:

1. The mandatory retirement age in Wonkaland is abolished.

  • INCREASE IN THE LONG RUN AGGREGATE SUPPLY CURVE: greater use of labor

2. Wonkaland's main export is candy. Candy from this country increases in popularity as consumers all over the world want to buy Wonkalandian candy.

  • NO CHANGE IN THE LONG RUN AGGREGATE SUPPLY CURVE

3. Since candy from Wonkaland has become an international sensation, factories in Wonkaland double the number of candy making machines.

  • INCREASE IN THE LONG RUN AGGREGATE SUPPLY CURVE: greater use of capital investments

4. The top candy companies in Wonkaland chose to relocate their means of production to other countries around the world.

  • DECREASE IN THE LONG RUN AGGREGATE SUPPLY CURVE: lower use of capital investments

Explanation:

The long run aggregate supply curve is only affected by changes in capital, labor and technology. If the use of these factors increases, the LRAS curve will increase, if their use decreases, then the LRAS curve decreases.

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In an economy resources are limited while human wants are unlimited. So resources must be used in a way that maximum consumer wants can be met efficiently. In an economy when resources are allocated efficiently it is rarely possible to make some else better off without making someone else worse off. That is it is rarely possible to increase performance of some without sacrificing on some other dimension.

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Bain corp. owned 20,000 common shares of tell corp., purchased in year 1 for $180,000. on december 15, year 5, bain declared a p
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$300,000

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The manager of the manufacturing unit of a company is responsible for the costs of the manufacturing unit. The president is in t
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AC Problems : Incurred even at 0 output level, much varying & deviant from cash flows

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Topik is a product that is sprayed on thinning hair and makes the hair appear thicker. The manufacturer considers its potential
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The answer is (C).

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