Long Run Aggregate Supply Curve and Factors Affecting it

The video tutorial explains the differences between short run and long run aggregate supply curves, emphasizing the factors that cause these curves to shift. It highlights the concept of full employment and real output, and discusses how changes in the quantity and quality of factors of production, such as land, labor, capital, and enterprise, can lead to shifts in the long run aggregate supply curve. The tutorial concludes with a summary and encourages viewers to explore further topics, including the Keynesian view on aggregate supply.

In what ways can changes in the labor force affect the long run aggregate supply?

How can government policies influence the factors of production?

What is the significance of the production possibility frontier in relation to aggregate supply?

Describe how immigration can impact the quantity and quality of factors of production.