Orin v CENGAGE | MINDTAP Q Search this course My Home Module Five Quiz X Courses Attempts Keep the Highest / 4 Catalog and Study Tools 4 . The slope and position of the long-run aggregate supply curve A-Z Rental Options Suppose the Fed doubles the growth rate of the quantity of money in the economy. In the long run, the incr rease in money growth will change which of College Success Tips the following? Check all that apply. 6 Career Success Tips The inflation rate The price level Help O The quantity of physical capital Give Feedback The level of technological knowledge Suppose the economy produces real GDP of $50 billion when employment is at its natural rate. Use the purple points (diamond symbol) to plot the economy's long-run aggregate supply (LRAS) curve on the graph. (?) 132 128 LRAS 124 120 PRICE LEVEL 116 112 108 104 100 10 20 30 40 50 80 70 80 OUTPUT (Billions of dollars) Suppose the government passes a law that significantly increases the minimum wage. The policy will cause the natural rate of unemployment to , which will: O Shift the long-run aggregate supply curve to the left Not affect the long-run aggregate supply curve O shift the long-run aggregate supply curve to the right In the following table, determine how each event affects the position of the long-run aggregate supply (LRAS) curve. Direction of LRAS Curve Shift Many workers leave to pursue m re careers in foreign economies. cre of farmland. A gov I level of the workforce. Grade It Now Save & Continue Continue without saving