This is a period in which at least one input item is fixed.
What is Short Run?
In the short run, an increase in the price level results in higher nominal profits giving firms the incentive to produce more and explains this.
What is a slope in the SRAS?
Group spends 9 hours returning jewelry.
What is LOTR?
This one-eyed giant from Greek mythology was outsmarted by Odysseus.
What is a Cyclops?
Changes in per unit cost of production, productivity, expected inflation can result in this.
What is a shift in the SRAS?
This place has the big pink tree.
What is Lucky Landing?
This is the strongest material you can use.
What is Netherite?
The shape of the LRAS.
What is a vertical slope?
The output firms will produce in the long run at various price levels
What is Long Run Aggregate Supply?
This Italian dish, known for its thin crust and variety of toppings, is one of the most popular foods worldwide.
What is pizza?
Back Pack Kid made this dance.
What is the Floss?
This person made Minecraft.
Who is Notch?
Everyone tries the ice bucket challenge.
What is Titanic?
This half-man, half-horse creature from Greek mythology is known for its wisdom and warrior skills.
What is a Centaur?
He said "In the long run we are all dead."
Who is John Maynard Keynes?
This is what we call it when an input price change lags behind price level changes.
What is sticky?
This is the recommended level to mine for diamonds.
What is Level 12?
This is why: In the long run, a change in the price level does not affect nominal profits, so firms have no incentive to vary their output.
What is the reason the LRAS curve is a vertical line?
This sea creature from Greek mythology lured sailors to their doom with their enchanting music and voices.
What are Sirens?
When in Central Asia, ask for shashlik; when in the Middle East, ask for this 2-word equivalent.
What is a shish kebab?
The Arial Assault Trooper first appeared in this season.
What is Season 1?
These are input prices, productivity, government policies, and inflationary expectations.
What are determinants of SRAS?
The Stockholm Syndrome works.
What is Beauty and the Beast?
Changes in productivity, quality and quantity of the factors of production causes this.
What are shifts in the LRAS?
Marcona is a variety of this nut grown in Spain.
What is an almond?