Short-Run and Long-Run Economics Discussion

Question Description

Postshould be 75-150 words in length, and is due on Sunday. By Tuesday, youshould respond to two additional posts from your peers.

It is important to distinguishbetween changes that are anticipated and unanticipated because theimpact on the economy will differ between the two. The economy is inlong-run equilibrium when the short-run aggregate supply curve,aggregate demand curve, and long-run aggregate supply curve are inequilibrium.

What are the major factorscausing a shift in aggregate demand (inward or outward)? What are themajor factors that will affect short-run aggregate supply? Long-runaggregate supply?

Reviewwhat factors will lead to a shift in the AD, SAS, and LRAS. Anincrease in output due to economic growth will increase both short-runand long-run aggregate supply. Unanticipated changes in eitheraggregate demand or aggregate supply will disrupt long-run equilibriumand cause current output to differ from the economy’s long-runpotential.

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