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Suppose that the U.S. concrete industry has developed an inexpensive way to make concrete both lighter and stronger. As result, the full employment level of

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Suppose that the U.S. concrete industry has developed an inexpensive way to make concrete both lighter and stronger. As result, the full employment level of aggregate output has grown from level A to level B in the graph. Move the SRAS (sho aggregate supply), AD (aggregate demand), or LRAS (long-run aggregate supply) curves to describe how this concrete technology innovation has affected the U.S. economy. LRAS SRAS Price level AD A B 0 1 2 3 5 6 7 8 9 10 Aggregate output

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