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7 Terms

1
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When nominal wages ↓

AS ↑ (NW)

2
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When imported raw material costs ↓ (When exchange rates ↑, Overseas prices ↓)

AS ↑ (IRM)

3
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Productivity ↑ (Technology ↑ and Skilled labour leaving NZ ↓)

AS ↑

4
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Indirect tax & govt charges ↓ (GST tax ↓, exercise tax↓, compliance costs ↓)

AS ↑

5
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Technology ↑

AS ↑

6
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AS shifts to the right when it…

decreases

7
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AS shifts to the left when it…

increases