5. The slope and position of the long-run aggregate supply curve Assume the Federal Reserve triples the growth rate of the quantity of money in circulation. In the long run, this increase in money growth will affect which of the following? Check all that apply. [l The level of technological knowledge [ The size of the labor force The price level The guantity of physical capital Suppose when unemployment is at its natural rate the economy produces a level of real GDF equal to $70 billion. Using the purple points (diamond symbol) plot the economy's long-run aggregate supply (LRAS) curve on the graph. 132 128 LRAS 124 120 116 PRICE LEVEL 112 108 104 100 10 20 30 40 50 80 70 80 90 100 OUTPUT (Billions of dollars)Suppose now the government passes a law that significantly increases the minimum wage. This change in policy will cause the natural rate of unemployment to W, which will: ) Mot impact the long-run aggregate supply curve ) Shift the long-run aggregate supply curve to the right ) Shift the long-run aggregate supply curve to the left Complete the following table by determining how each event impacts the position of the long-run aggregate supply (LRAS) curve. Direction of LRAS Curve Shift A government-sponsored training program increases the skill level of the workforce. v The government allows more immigration of working-age adults who find work. - This economy's pnimary source of foreign oil decides to cease exports for political reasons. v