Greece: Long Run Aggregate Supply Curve Shift
GDP per hour worked (2009 - 2019) (OECD) 2009 $39 2010 $39 2011 $36.30 2012 $34.80 2013 $34 2014 $33.70 2015 $34.40 2016 $33.10 2017 $33.50 2018 $33.60 2019 $33.90 GDP per hour lowers which means that the curve shifts to the left because there is a decrease in workers therefore a decrease in productivity Birth rate (World Bank) 2008 1.50% 2009 1.50% 2010 1.48% 2011 1.40% 2012 1.34% 2013 1.29% 2014 1.30% 2015 1.33% 2016 1.38% 2017 1.35% 2018 1.35% decrease in birth rate for a bit then in 2014 it increases a little decrease in quantity which would shift the curve to the left because there is less population to supply Education (OECD) Greece has the highest enrollment rates in bachelor’s programs within the countries studied by the OECD among 18-24 year olds Between 2008-2018 there was an increase in college education among 25-35 year olds 28% - 43% Observations This means that the increase in higher education which shifts it to the right This is because more educated workers will be more...