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Quiz Why is the SRAS curve upward sloping? Two reasons There is an increase in the minimum wage rate - explain using a diagram the

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  1. Why is the SRAS curve upward sloping?Two reasons
  2. There is an increase in the minimum wage rate - explain using a diagram the impact of this on the SRAS
  3. The US president is due to meet Prince Salman of Saudi Arabia on his Middle East tour next week to discuss oil supply - explain using the SRAS how this would impact the USA if agreed.
  4. The UAE government announced the "golden visa". Explain using a diagram what impact this has on the LRAS.
  5. Which LRAS model would you choose to demonstrate the home economy. Justify your response with a diagram.

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