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For each of the following situations, identify the determinant (shifter) of aggregate supply (if any) and indicate if the effect it would have on aggregate
For each of the following situations, identify the determinant (shifter) of aggregate supply (if any) and indicate if the effect it would have on aggregate supply.
- raw material and resource prices increase significantly in the US
- Computer technology brings new efficiency to industries
- There is a significant increase in consumer spending
- Labor productivity increases dramatically due to new training programs
- The government raises corporate taxes significantly
- An increase in expected inflation causes workers to demand higher wages
- The government gives tax credits to businesses
- There is a significant decrease in the price of electricity
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