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Business, 05.05.2020 18:02 Nikki2807

For each of the following scenarios, please decide whether there will be an increase or decrease in short-run aggregate supply, or if there will be no change.

1.Although the economy is healthy, there is an increase in the natural rate of unemployment.

2.The price of lumber, a commodity, rises drastically due to the effect of heavy winter weather in the American Northwest, where much of the world\'s lumber is grown.

3.The production of a new type of blade for their combine harvesters, a tractor used to harvest crops, has allowed wheat farmers, like Herbert, to increase productivity by 40%.

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