The aggregate demand curve on potential output

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Reference no: EM13718723

5. (Changes in Aggregate Supply) List three factors that can change the economy's potential output. What is the impact of shifts of the aggregate demand curve on potential output? Illustrate your answer with a diagram.

a. Supply of resources in the economy

b. Level of technology

c. Production incentives provided by the formal and informal institutions of the economic system.

Reference no: EM13718723

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