Edexcel A Level Economics A:复习笔记2.3.2 Short-run AS

Factors Influencing Short-run AS

  • There are multiple factors that can influence the short-run aggregate supply (SRAS). These include:
    • Changes in costs of raw materials and energy
    • Changes in exchange rates (E/R)
    • Changes in tax rates

A Table That Explains The Influences On Short-run Aggregate Supply (SRAS)

Change in Condition Explanation Impact on SRAS
Increase in costs of raw materials/energy As the price of input costs rise, fewer goods/services can be produced with the same amount of money SRAS decreases - shifts left
Decrease in costs of raw materials/energy As the price of input costs decrease, more goods/services can be produced with the same amount of money SRAS increases - shifts right
Appreciation of E/R Producers often import raw materials
Stronger currency = cheaper imports
Cheaper imports = decrease in input costs
Lower costs = more output
SRAS increases - shifts right
Depreciation of E/R Producers often import raw materials
Weaker currency = more expensive imports
More expensive imports = increase in input costs
Higher costs = less output
SRAS decreases - shifts left
Decrease in tax rates Taxes represent an additional cost for firms
Decreasing taxes =  decrease in costs
Lower costs = more output
SRAS increases - shifts right
Increase in tax rates Taxes represent an additional cost for firms
Increasing taxes =  increase in costs
Higher costs = less output
SRAS decreases - shifts left

 

 

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