Here is the synopsis of our sample research paper on THE IMPACT OF RESOURCE SHIFT ON THE AGGREGATE SUPPLY CURVE. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 5-page paper focuses on discussion of the aggregate demand/aggregate supply theory, noting the impact that resources and labor has on aggregate supply. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: D0_MTagsucu.rtf
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Unformatted sample text from the term paper:
resource prices, per-unit production costs, and shift the aggregate supply curve to the right. Conversely, declines in resource supplies will raise input prices, increase per-unit production costs, and shift the
aggregate supply curve to the left. How might changes in the availability of land, labor, capital, and entrepreneurial resources serve to shift the aggregate supply curve?
To answer this question, it would first be helpful to examine what, exactly, an aggregate supply curve is and how it functions. In its
most basic form the aggregate supply (AS) in general is a measure of the volume of goods and services produced in a particular economy, at a given overall price level
(Tutor2uLiminted, 2004). In addition, there exists a positive relationship between AS and the general price level. AS can also be defined as
the total amount of output in a given economy, in other words, the ability of a specific economy to produce goods and services at differing price levels (Biz/ed.com, 2004). In
both of these definitions, theres a definite link between prices, how they rise and fall, and how the aggregate supply economic graph operates.
Heres how this works. When prices begin to rise for goods or services, this provides a signal to businesses to expand their production to meet a higher level of
aggregate demand, or AD (Tutor2uLiminted, 2004). This assumes that prices are going up because people are willing to pay more prices for the goods and services, namely because they have
the money to do so. The more the demand increases, therefore, the more the aggregate supply should increase as well (Tutor2uLiminted, 2004). In AD/AS theory, the supply is increased to
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