23. What are the effects on the RGDP and the price level of a decrease in AS? 24. How does an increase in AS affect the price level and RGDP? 25. What are the effects on the RGDP and price level when AD decreases in each of the three ranges along the AS curve?

26. What distinguishes the short-run from the long-run in macroeconomics? 27. Identify the basic difference between a short-run and long-run AS curve. 28. Explain what happens to AS when an increase in the price level results in an increase in nominal wages.