Problem Set 2

May 5th, 2015
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Liberty University
Course: econ
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ECON 214PROBLEM SET 21. What impact would a change that shifts an economy's production possibilities curveoutward have on the long run aggregate supply curve? How have improvements incomputer technology affected production possibilities and the long run aggregate supplycurve?When a production possibilities curves ourward, there are more goods opertunties toproduce a larger number of goods. Since there is more potential for goods to be produced,the aggregate would also rise. The improvement of computer technology have madeoutput a larger amount of resources. This would cause an outwar

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