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Indicate whether the following scenarios represent an increase, decrease, or no

ID: 1096300 • Letter: I

Question

Indicate whether the following scenarios represent an increase, decrease, or no change in the long-run aggregate supply (LRAS) curve. Each label may be used more than once. The mandatory retirement age in Wonkaland is abolished. Wonkaland?s main export is candy. Candy from this country increases in popularity as consumers all over the world want to buy Wonkalandian candy. Since candy from Wonkaland has become an international sensation, factories in Wonkaland double the number of candy making machines. The top candy companies in Wonkaland chose to relocate their means of production to other countries around the world. No Change in the LRAS Curve Decreases the LRAS Curve Increases the LRAS Curve

Explanation / Answer

1.Increase

2. No Change

3.Increase

4. Decrease

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