Understanding SRAS and LRAS Determine the effect on the short-run aggregate supply (SRAS) curve for each of the following scenarios. Draw the graph. Remember to accurately label all lines, points, and axes when drawing the graphs for these exercises. Indications are the same as for the question above, but for the SRAS. Then answer the last two questions regarding the LRAS. 1. Labor productivity increases in the macroeconomy. 2. An earthquake destroys a significant amount of infrastructure in the economy. 3. Technological progress occurs in the economy. Answer the following questions about the LRAS. 4. Why is the LRAS curve vertical? 5. Canthe LRAS curve shift