Shifters in LRAS
Definition
Shifters in LRAS refer to factors that cause the Long-Run Aggregate Supply (LRAS) curve to shift, resulting in changes in potential output and economic growth. These factors can either increase or decrease the productive capacity of an economy.
Related terms
Technology advancements: Technological progress can increase productivity and shift the LRAS curve to the right.
Education and training: A more skilled workforce through education and training can also shift the LRAS curve to the right.
Natural disasters: Disruptions caused by natural disasters can decrease production capacity and shift the LRAS curve to the left.
"Shifters in LRAS" appears in:
Study guides (1)
AP Macroeconomics - 3.4 Long-Run Aggregate Supply (LRAS)
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Cram Mode
AP Score Calculators
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AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.