The long run aggregate supply curve

changes in natural resources: If natural resources become more easily accessible to a country, the long run aggregate supply curve would shift to the _______

right

changes in technological knowledge: if a country gains more technological knowledge the aggregate supply curve would shift to the _______

right

What are the four reasons the long run aggregate supply curve might shift?

changes in labor, capital, natural resources, technological knowledge

changes in capital: A decrease in a country's capital stock causes a ________ in the country's productivity and thereby a ________ in the quantity of goods and services supplied. shifting the long run aggregate supply to the _______

decrease, decrease, left

changes in labor: If Congress were to pass a law that encourage unemployed workers to search harder for jobs, then the natural rate of unemployment would _______ which would cause a ________ in the quantity of goods and services supplied, shifting the long run aggreagte supply to the ______

decrease, increase, right

changes in labor: If Congress were to raise the minimum wage substantially, then the natural rate of unemployment would _____ and which would cause a _______ in the quantity of goods and services supplied, shifting long run aggregate supply to the ____

increase, decrease, left

changes in capital: An increase in a country's capital stock causes an ________ in the country's productivity and thereby an ________ in the quantity of goods and services supplied. shifting the long run aggregate supply to the _______

increase, increase, right

changes in natural resources: If natural resources become less accessible to a country, the long run aggregate supply curve would shift to the _____

left

changes in labor: A country has an influx of emigrants, therefore there will be ______ workers, which will _____ the quantity of goods and services supplied and would shift the long-run aggregate supply to the _______

less, decrease, left

changes in labor: A country has an influx of immigrants, therefore there will be ______ workers, which will _____ the quantity of goods and services supplied and would shift the long-run aggregate supply to the _______

more, increase, right

the production of goods and services that an economy achieves in the long run when unemployment is at its normal rate

natural level of output

The long run aggregate supply curve is vertical because Real GDP is only affected by _______ ______

real variables