What does AS measure?

What does SRAS show?

What does LRAS show?

What is the LRAS curve assumed to look like?

What is the SRAS curve assumed to be?

What happens to SRAS if ↑AD?

What happens to SRAS if ↓AD

What is a shift in SRAS caused by? (6)

How to changes in production costs affect SRAS?

How do commodity prices affect SRAS?

How does the ER affect SRAS?

How does the P of M affect SRAS?

How do gov T and subsidies affect SRAS?

What is the main driver of SRAS?

In the LR what is an economy's ability to produce goods + services to meet D based on?

What does an increase in LRAS show?

What does productivity measure?

What are the key factors affecting LRAS? (4)

What is the productivity gap?

How is the productivity gap measured?

Why does the UK lag on productivity? (4)

What is an improvement in labour productivity likely to do to PL?

What is an improvement in labour productivity likely to do to GDP?

What is an improvement in labour productivity likely to do to U?

What is an improvement in labour productivity likely to do to (X-M)?

What is an improvement in labour productivity likely to do to spare capacity?

What is an improvement in labour productivity likely to do to I?

What is an improvement in labour productivity likely to do to G?