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efficiently employed, so it represents productive capacity."},{"text":"actual national income","correct":false,"explanation":"Actual national income can be below or above sustainable capacity in the short run. LRAS represents productive capacity, which depends on available factors of production."},{"text":"the general price level","correct":false,"explanation":"The general price level is measured on the vertical axis of an aggregate supply diagram. LRAS represents productive capacity rather than the economy’s price level."},{"text":"consumer confidence","correct":false,"explanation":"Consumer confidence affects aggregate demand by influencing spending. LRAS represents productive capacity, determined by the economy’s resources and their efficiency."}]},{"id":"02675b66-2f45-46b1-ae74-2a286e60314a","cardType":"cloze","points":null,"front":"The classical LRAS curve is vertical at the [ ].","back":"The classical LRAS curve is vertical at the full-employment level of output.","mcqOptions":[{"text":"full-employment level of output","correct":true,"explanation":"The classical LRAS curve is vertical at the full-employment level of output because, in the long run, resources are assumed to be fully employed."},{"text":"equilibrium price level","correct":false,"explanation":"The price level is shown on the vertical axis and does not determine where the classical LRAS curve stands. The curve is fixed at full-employment output."},{"text":"short-run equilibrium output","correct":false,"explanation":"Short-run equilibrium output may be below or above sustainable capacity because demand and costs fluctuate. Classical LRAS is positioned at full-employment output."},{"text":"minimum efficient scale of output","correct":false,"explanation":"Minimum efficient scale concerns the cost efficiency of an individual firm, not the whole economy’s capacity. Classical LRAS is vertical at full-employment output."}]},{"id":"70fe7cb3-ed53-4070-9d6d-97cbd53935e8","cardType":"cloze","points":null,"front":"A rightward shift in LRAS represents [ ].","back":"A rightward shift in LRAS represents potential economic growth.","mcqOptions":[{"text":"potential economic growth","correct":true,"explanation":"A rightward LRAS shift means the economy can sustainably produce more at each price level. This is potential economic growth, caused by increased resources or productivity."},{"text":"short-run inflation","correct":false,"explanation":"Short-run inflation is usually associated with aggregate demand rising faster than productive capacity or with SRAS shifting left. A rightward LRAS shift indicates potential growth."},{"text":"a fall in actual output","correct":false,"explanation":"A rightward shift increases the economy’s sustainable output rather than reducing current production. It represents potential economic growth, even if actual output does not immediately change."},{"text":"a movement along the LRAS curve","correct":false,"explanation":"A movement along LRAS follows a change in the price level. A rightward shift changes productive capacity and therefore represents potential economic growth."}]},{"id":"d8ad0e27-ecf5-405d-a0b8-e46b3ab05c99","cardType":"basic","points":1,"front":"What determines the position of LRAS?","back":"It depends on the quantity and quality of factors of production.","mcqOptions":[{"text":"It depends on the quantity and quality of factors of production.","correct":true,"explanation":"LRAS depends on how many resources the economy has and how effectively they can be used. These quantity and quality factors determine productive capacity."},{"text":"the level of aggregate demand","correct":false,"explanation":"Aggregate demand determines spending and influences short-run equilibrium output. LRAS is determined by the quantity and quality of factors of production."},{"text":"the general price level and inflation rate","correct":false,"explanation":"Prices and inflation can affect short-run decisions, but they do not directly determine long-run productive capacity. LRAS depends on factors of production."},{"text":"the distribution of consumer spending","correct":false,"explanation":"Consumer spending patterns affect the composition of demand, not the economy’s maximum sustainable output. The position of LRAS depends on factor quantity and quality."}]},{"id":"34f72635-7a20-4bc3-8e5b-64265eb8b238","cardType":"basic","points":2,"front":"What happens to LRAS when investment increases the capital stock?","back":"LRAS shifts right because productive capacity rises.","mcqOptions":[{"text":"LRAS shifts right because productive capacity rises.","correct":true,"explanation":"Investment adds to the capital stock, such as machinery and infrastructure. This expands the economy’s ability to produce, shifting LRAS right."},{"text":"LRAS shifts left because saving reduces consumption.","correct":false,"explanation":"Although saving may reduce current consumption, investment increases the capital stock and expands capacity. The resulting long-run effect is a rightward LRAS shift."},{"text":"SRAS shifts left because capital becomes more expensive.","correct":false,"explanation":"Investment does not necessarily make capital more expensive, and its key long-run effect is higher capacity. This shifts LRAS right rather than SRAS left."},{"text":"LRAS remains unchanged because investment only affects demand.","correct":false,"explanation":"Investment is a component of aggregate demand in the short run, but it also increases the capital stock. That supply-side effect shifts LRAS right."}]},{"id":"bccad6b3-46b2-45ae-82e2-c1aba043f7be","cardType":"basic","points":2,"front":"How can improved education affect LRAS?","back":"It improves the quality of labour, shifting LRAS right.","mcqOptions":[{"text":"It improves the quality of labour, shifting LRAS right.","correct":true,"explanation":"Education develops workers’ skills and knowledge, raising human capital and labour productivity. Higher-quality labour increases potential output and shifts LRAS right."},{"text":"It increases the quantity of land, shifting LRAS right.","correct":false,"explanation":"Education improves human capital rather than creating more land. Its effect on LRAS comes through the quality and productivity of labour."},{"text":"It reduces the quality of labour, shifting LRAS left.","correct":false,"explanation":"Improved education generally raises workers’ skills and productivity rather than reducing them. This increases productive capacity and shifts LRAS right."},{"text":"It increases the price level, shifting LRAS right.","correct":false,"explanation":"Education affects productive capacity through human capital, not directly through the price level. The relevant change is improved labour quality."}]},{"id":"2f125dad-d3c3-4439-85da-44351c602b45","cardType":"basic","points":2,"front":"How does improved technology affect LRAS?","back":"It raises productive capacity, shifting LRAS right.","mcqOptions":[{"text":"It raises productive capacity, shifting LRAS right.","correct":true,"explanation":"Better technology allows existing resources to produce more efficiently or enables new production methods. This raises sustainable potential output and shifts LRAS right."},{"text":"It lowers productive capacity, shifting LRAS left.","correct":false,"explanation":"Improved technology normally increases efficiency and potential output rather than reducing them. A fall in productive capacity would shift LRAS left."},{"text":"It raises aggregate demand, shifting LRAS right.","correct":false,"explanation":"Technology is primarily a supply-side determinant. It raises productive capacity and shifts LRAS right, whereas higher aggregate demand moves the economy along its supply curve."},{"text":"It lowers labour productivity, shifting LRAS right.","correct":false,"explanation":"Improved technology usually raises labour productivity. Higher productivity expands capacity and shifts LRAS right; lower productivity would weaken the supply side."}]},{"id":"4f13a400-3321-4773-b35e-3320f8a7ab7b","cardType":"basic","points":2,"front":"Why does higher productivity shift LRAS right?","back":"Higher productivity increases potential output, shifting LRAS right.","mcqOptions":[{"text":"Higher productivity increases potential output, shifting LRAS right.","correct":true,"explanation":"Productivity measures output produced from given inputs. When resources become more productive, the economy’s potential output rises, so LRAS shifts right."},{"text":"Higher productivity reduces potential output, shifting LRAS left.","correct":false,"explanation":"The misconception reverses the relationship: greater productivity means more output from the same inputs. Therefore potential output rises and LRAS shifts right."},{"text":"Higher unemployment increases potential output, shifting LRAS right.","correct":false,"explanation":"Higher unemployment leaves more resources idle and normally reduces actual production. LRAS shifts right when productivity rises, not when unused labour increases."},{"text":"Higher inflation increases potential output, shifting LRAS right.","correct":false,"explanation":"Inflation changes the general price level but does not automatically make resources more productive. Higher productivity, rather than higher inflation, raises potential output."}]},{"id":"6aa92261-9497-4641-833f-6f36e6a82b85","cardType":"basic","points":2,"front":"How can migration affect LRAS?","back":"It changes the size of the workforce.","mcqOptions":[{"text":"It changes the size of the workforce.","correct":true,"explanation":"Migration can increase or decrease the number of workers available. This changes the economy’s factor supply and may therefore alter productive capacity and LRAS."},{"text":"It changes the quantity of money.","correct":false,"explanation":"Migration primarily affects labour supply, not the quantity of money. Changes in the workforce can alter productive capacity and therefore LRAS."},{"text":"It fixes the exchange rate.","correct":false,"explanation":"Migration does not automatically determine or fix the exchange rate. Its direct supply-side effect is changing the size and potentially the skills of the workforce."},{"text":"It changes the stock of natural resources.","correct":false,"explanation":"Migration changes the available labour force rather than directly changing natural resources. The workforce effect can increase or decrease productive capacity."}]},{"id":"a44e335c-e1df-489f-bd72-e8348922dbfe","cardType":"basic","points":2,"front":"How can demographic change shift LRAS?","back":"It changes the size of the workforce and productive capacity.","mcqOptions":[{"text":"It changes the size of the workforce and productive capacity.","correct":true,"explanation":"Demographic changes alter the number and age composition of people available for work. This affects labour supply and therefore the economy’s productive capacity."},{"text":"It changes the money supply and aggregate demand.","correct":false,"explanation":"Demographic change can influence demand, but its direct LRAS effect comes from changing labour supply and productive capacity, not simply the money supply."},{"text":"It changes the price level and nominal wages.","correct":false,"explanation":"Demographic shifts may influence prices and wages, but LRAS changes because the workforce and productive capacity change. Price effects alone do not shift LRAS."},{"text":"It changes the trade balance and exchange rate.","correct":false,"explanation":"Demographic change may affect imports and exports indirectly, but the relevant determinant of LRAS is its effect on workforce size and productive capacity."}]},{"id":"6b9ecfab-6c97-4965-9222-3f3680257dbd","cardType":"basic","points":2,"front":"Why can increased factor mobility raise LRAS?","back":"Greater factor mobility allows resources to be employed more efficiently.","mcqOptions":[{"text":"Greater factor mobility allows resources to be employed more efficiently.","correct":true,"explanation":"When labour and capital can move between locations or occupations, resources are allocated more effectively. This raises the output obtainable from existing factors."},{"text":"Greater factor mobility prevents resources being reallocated efficiently.","correct":false,"explanation":"The effect is the opposite: mobility helps resources move towards their most productive uses. This improves efficiency and can raise LRAS."},{"text":"Greater consumer confidence allows resources to be employed more efficiently.","correct":false,"explanation":"Consumer confidence mainly affects aggregate demand through spending. Efficient resource allocation depends on factor mobility, which can raise productive capacity."},{"text":"Greater price stability prevents resources being employed efficiently.","correct":false,"explanation":"Price stability is not the mechanism described here, and it does not inherently prevent efficient allocation. Factor mobility improves how resources are employed."}]},{"id":"ce7ecc8d-b96d-4c12-8c3e-13823f3e29b7","cardType":"basic","points":2,"front":"How can improved economic incentives affect LRAS?","back":"Stronger incentives can increase work and enterprise, raising capacity.","mcqOptions":[{"text":"Stronger incentives can increase work and enterprise, raising capacity.","correct":true,"explanation":"Incentives such as rewards for employment, investment, and entrepreneurship can increase labour participation and business activity. These responses expand productive capacity."},{"text":"Stronger incentives can reduce work and enterprise, lowering capacity.","correct":false,"explanation":"This reverses the usual supply-side effect of incentives. Stronger rewards for working and investing generally encourage activity and can raise productive capacity."},{"text":"Stronger incentives can increase imports and consumption, raising capacity.","correct":false,"explanation":"Incentives may affect consumption, but their LRAS effect comes from encouraging work, investment, and enterprise. Imports alone do not raise domestic productive capacity."},{"text":"Stronger incentives can increase inflation and taxation, raising capacity.","correct":false,"explanation":"Inflation and taxation are not the intended channels, and higher taxation may weaken incentives. Work and enterprise are the activities that can expand capacity."}]},{"id":"6007735d-8f23-49a1-a46c-1ffc34c2ec1c","cardType":"basic","points":2,"front":"How can a sound banking system raise LRAS?","back":"It provides funds for business investment, increasing capacity.","mcqOptions":[{"text":"It provides funds for business investment, increasing capacity.","correct":true,"explanation":"A sound banking system channels savings into loans and investment finance. Businesses can then acquire capital and expand production, raising long-run productive capacity."},{"text":"It provides funds for household consumption, increasing capacity.","correct":false,"explanation":"Consumer credit may raise aggregate demand, but the LRAS effect described comes from finance for business investment, which expands the capital stock."},{"text":"It restricts funds for business investment, increasing capacity.","correct":false,"explanation":"Restricting investment finance would make it harder for firms to build capital and expand production. A sound banking system supports capacity by providing funds."},{"text":"It provides tax revenue for government spending, increasing capacity.","correct":false,"explanation":"Banks do not primarily raise LRAS by collecting tax revenue. Their relevant contribution is supplying businesses with finance for investment and expansion."}]},{"id":"0cce8f15-2ca7-4759-9f39-79e21985aca9","cardType":"cloze","points":null,"front":"A temporary change in production costs shifts [ ], not LRAS.","back":"A temporary change in production costs shifts SRAS, not LRAS.","mcqOptions":[{"text":"SRAS","correct":true,"explanation":"Temporary production-cost changes affect firms’ short-run profitability and willingness to supply. They shift SRAS, while LRAS changes only when productive capacity changes."},{"text":"LRAS","correct":false,"explanation":"A temporary cost movement does not alter the economy’s underlying quantity or quality of resources. It shifts SRAS; LRAS requires a lasting change in capacity."},{"text":"AD","correct":false,"explanation":"Aggregate demand changes when spending components such as consumption or investment change. A temporary production-cost change directly affects short-run aggregate supply."},{"text":"potential output","correct":false,"explanation":"Potential output is tied to long-run productive capacity and does not change because of a temporary cost fluctuation. The relevant curve shift is SRAS."}]},{"id":"5fd1ea05-9766-400f-a29c-ee525861fb8b","cardType":"basic","points":2,"front":"Why does a temporary cost change not shift LRAS?","back":"Only a change in the economy's productive capacity shifts LRAS.","mcqOptions":[{"text":"Only a change in the economy's productive capacity shifts LRAS.","correct":true,"explanation":"LRAS represents the economy’s sustainable maximum output. Temporary costs affect short-run supply, whereas lasting changes in resources or efficiency alter productive capacity."},{"text":"Only a change in the economy's price level shifts LRAS.","correct":false,"explanation":"A price-level change causes movement along an aggregate supply curve rather than shifting LRAS. The curve shifts when productive capacity changes."},{"text":"Only a change in the economy's aggregate demand shifts LRAS.","correct":false,"explanation":"Aggregate demand affects equilibrium output and prices, not the economy’s long-run capacity. LRAS shifts when productive capacity changes."},{"text":"Only a change in the economy's temporary production costs shifts LRAS.","correct":false,"explanation":"Temporary cost changes shift SRAS because they affect short-run production decisions. LRAS shifts only when productive capacity changes."}]},{"id":"f12a34c3-06c1-41c2-aa48-e88fb0176260","cardType":"basic","points":3,"front":"What are the three sections of the Keynesian AS curve?","back":"

Horizontal at low output
Upward-sloping as capacity tightens
Vertical at full capacity

","mcqOptions":[{"text":"

Horizontal at low output
Upward-sloping as capacity tightens
Vertical at full capacity

","correct":true,"explanation":"The Keynesian AS curve assumes spare capacity at low output, rising costs as resources become scarce, and no further output increase once full capacity is reached."},{"text":"

Vertical at low output
Horizontal as capacity tightens
Upward-sloping at full capacity

","correct":false,"explanation":"This reverses the Keynesian curve’s sections. It is horizontal with spare capacity, upward-sloping as constraints emerge, and vertical at full capacity."},{"text":"

Upward-sloping at low output
Vertical as capacity tightens
Horizontal at full capacity

","correct":false,"explanation":"The final two sections are reversed here. Capacity constraints make supply steeper, ending in a vertical section when full capacity is reached."},{"text":"

Horizontal at low output
Vertical as capacity tightens
Upward-sloping at full capacity

","correct":false,"explanation":"The curve does become steeper as capacity tightens, but it is upward-sloping before full capacity and vertical at full capacity, not the other way around."}]},{"id":"a53333fb-307f-4293-a4fd-5826827a6b2d","cardType":"cloze","points":null,"front":"The classical view assumes wages and prices are [ ].","back":"The classical view assumes wages and prices are flexible.","mcqOptions":[{"text":"flexible","correct":true,"explanation":"Wages and prices are assumed to adjust freely in response to changes in demand and supply, allowing markets to return to equilibrium and output to return to its full-employment level."},{"text":"rigid","correct":false,"explanation":"The classical model does not assume wages and prices are unable to change. It assumes they are flexible, so they adjust to clear labour and product markets."},{"text":"fixed","correct":false,"explanation":"Fixed wages and prices would prevent markets from adjusting, which conflicts with the classical view. The classical assumption is that wages and prices are flexible."},{"text":"sticky","correct":false,"explanation":"Sticky wages are mainly associated with the Keynesian view, particularly when wages adjust slowly downwards. The classical view assumes wages and prices are flexible."}]},{"id":"fcb8364b-5291-4acb-9ee8-0c5a9988623f","cardType":"cloze","points":null,"front":"The Keynesian view assumes wages are [ ].","back":"The Keynesian view assumes wages are sticky, especially downward.","mcqOptions":[{"text":"sticky, especially downward","correct":true,"explanation":"The Keynesian view assumes wages do not quickly fall when demand decreases, because contracts, worker resistance and minimum wage laws can prevent rapid downward adjustment."},{"text":"flexible in both directions","correct":false,"explanation":"The Keynesian model rejects rapid wage adjustment, especially when demand falls. Its key assumption is that wages are sticky, especially downward, creating possible unemployment."},{"text":"sticky, especially upward","correct":false,"explanation":"The important Keynesian asymmetry is difficulty reducing wages when demand falls, not difficulty increasing them. The correct assumption is that wages are sticky, especially downward."},{"text":"rigid, especially downward","correct":false,"explanation":"Keynesian wages are slow to adjust rather than completely unchangeable. The precise assumption is that wages are sticky, especially downward, allowing limited adjustment over time."}]},{"id":"0acec6b1-09bc-482e-bd67-84e8aaf86a81","cardType":"basic","points":2,"front":"What happens when aggregate demand rises on the flat Keynesian section?","back":"Output can rise with little effect on the price level.","mcqOptions":[{"text":"Output can rise with little effect on the price level.","correct":true,"explanation":"On the flat Keynesian section, substantial spare capacity means firms can increase production in response to higher demand without needing to raise prices significantly."},{"text":"The price level rises with little effect on real output.","correct":false,"explanation":"This describes the vertical section of the AS curve, where the economy is at full capacity. On the flat Keynesian section, output can rise with little effect on the price level."},{"text":"Output and the price level fall together.","correct":false,"explanation":"An increase in aggregate demand does not normally reduce both output and prices. With spare capacity on the flat section, output can rise with little effect on the price level."},{"text":"Output can rise only after the price level has doubled.","correct":false,"explanation":"Large price increases are not required when spare capacity exists. On the flat Keynesian section, firms can respond to higher demand by raising output with little effect on the price level."}]},{"id":"826cb28a-5c3d-49e5-8a1e-fba05ac18b52","cardType":"basic","points":2,"front":"What happens when aggregate demand rises on the vertical AS section?","back":"Extra demand raises the price level only, not real output.","mcqOptions":[{"text":"Extra demand raises the price level only, not real output.","correct":true,"explanation":"The vertical AS section represents full-employment output and no spare capacity. Therefore, additional aggregate demand creates inflationary pressure rather than increasing real output."},{"text":"Extra demand raises real output only, not the price level.","correct":false,"explanation":"This reverses the effect associated with the vertical AS section. At full capacity, real output cannot increase, so extra demand raises the price level only."},{"text":"Extra demand raises the price level and real output equally.","correct":false,"explanation":"The vertical section does not allow further real output at the existing capacity limit. Extra demand mainly creates a higher price level, while real output remains unchanged."},{"text":"Extra demand causes the price level to fall, while real output stays unchanged.","correct":false,"explanation":"A rise in demand puts upward, not downward, pressure on prices. On the vertical section, real output stays at full-employment output and the price level rises."}]},{"id":"b3bde106-ddfe-49c8-a668-f22efd919bdb","cardType":"basic","points":2,"front":"What does the classical LRAS curve imply about demand-side policy?","back":"Demand cannot increase long-run real output beyond full-employment output.","mcqOptions":[{"text":"Demand cannot increase long-run real output beyond full-employment output.","correct":true,"explanation":"The classical LRAS curve is vertical at the economy's productive capacity. Demand-side policies may raise the price level, but they cannot permanently push real output beyond full-employment output."},{"text":"Demand can increase long-run real output beyond full-employment output.","correct":false,"explanation":"This ignores the vertical classical LRAS curve and the economy's capacity constraint. Demand can affect prices in the long run, but cannot permanently raise output beyond full employment."},{"text":"Demand cannot affect the long-run price level after full-employment output is reached.","correct":false,"explanation":"The classical model predicts that extra demand beyond full-employment output produces inflation. It is long-run real output, rather than the price level, that demand cannot increase further."},{"text":"Demand can increase potential output without any change in productive capacity.","correct":false,"explanation":"Potential output depends on productive capacity, such as labour, capital and technology, rather than demand alone. Demand-side policy cannot raise long-run real output without capacity growth."}]},{"id":"ab58b93b-eb32-439e-a0b6-4c7d56d703de","cardType":"basic","points":2,"front":"Why can demand management raise output in the Keynesian view?","back":"Demand stimulus can raise real output because spare capacity exists.","mcqOptions":[{"text":"Demand stimulus can raise real output because spare capacity exists.","correct":true,"explanation":"With unemployed resources and spare capacity, firms can respond to stronger demand by increasing production. The Keynesian view therefore allows demand management to raise real output."},{"text":"Demand stimulus can raise the price level only because no spare capacity exists.","correct":false,"explanation":"This describes an economy on the vertical AS section at full capacity. In the Keynesian view, spare capacity allows demand stimulus to raise real output before it mainly increases prices."},{"text":"Demand stimulus reduces real output because firms cut production when demand increases.","correct":false,"explanation":"Higher demand normally gives firms an incentive to expand production when resources are unemployed. The Keynesian explanation is that spare capacity lets stimulus raise real output."},{"text":"Demand stimulus can raise real wages only because nominal wages are fully flexible.","correct":false,"explanation":"The Keynesian model focuses on increased production made possible by spare capacity and sticky wages. It does not assume that stimulus raises only real wages through fully flexible wages."}]},{"id":"dd9259f8-017b-449b-b9b8-e95c7a5fdfe3","cardType":"basic","points":3,"front":"Which AS section best fits a deep recession with high unemployment, and what follows?","back":"The flat Keynesian section, so stimulus can raise real output.","mcqOptions":[{"text":"The flat Keynesian section, so stimulus can raise real output.","correct":true,"explanation":"A deep recession with high unemployment indicates substantial spare capacity. The flat Keynesian section captures this situation, where stronger demand can increase real output with limited inflation."},{"text":"The vertical section, so stimulus mainly raises real output.","correct":false,"explanation":"A vertical AS curve represents full capacity, not a deep recession with high unemployment. In a recession, the flat Keynesian section is more appropriate and stimulus can raise real output."},{"text":"The flat Keynesian section, so stimulus can raise prices only.","correct":false,"explanation":"The flat section reflects spare capacity, allowing firms to expand production when demand rises. Therefore stimulus can raise real output, rather than affecting prices only."},{"text":"The vertical section, so stimulus has no effect on prices or output.","correct":false,"explanation":"Even when AS is vertical, extra demand can raise the price level. A deep recession is better represented by the flat Keynesian section, where stimulus can raise real output."}]},{"id":"463eb34a-d192-4750-af47-a96b4775264a","cardType":"basic","points":3,"front":"Which AS section best fits an economy near full capacity, and what follows?","back":"The vertical section, so extra demand mainly raises prices.","mcqOptions":[{"text":"The vertical section, so extra demand mainly raises prices.","correct":true,"explanation":"Near full capacity, firms have little spare capacity to expand production. The vertical AS section therefore implies that additional demand mainly creates upward pressure on the price level."},{"text":"The flat Keynesian section, so extra demand mainly raises prices.","correct":false,"explanation":"The flat section represents substantial spare capacity, where demand can increase output with little effect on prices. An economy near full capacity is better represented by the vertical section."},{"text":"The vertical section, so extra demand mainly raises real output.","correct":false,"explanation":"Near full capacity, limited spare resources prevent much further growth in real output. The vertical section therefore means extra demand mainly raises prices, not real output."},{"text":"The horizontal section, so extra demand leaves both prices and output unchanged.","correct":false,"explanation":"A horizontal or flat AS curve allows output to respond to higher demand, so it does not leave both variables unchanged. Near full capacity, the vertical section mainly raises prices."}]}]}],"examCountdown":{"examDate":"2027-05-10","paperLabel":"Paper 1"},"heading":"2.2.6 Determinants of long-run aggregate supply","title":"2.2.6 Determinants of long-run aggregate supply Flashcards","topbar":{"backHref":"/a-level/economics/aqa/flashcards"},"topicSidebar":"$L38"}]}],"topicId":"a6a27a63-eab7-5467-b184-e6e1e95c7c3b","walled":"$L39"}],"$L3a","$L3b"]