In countries that have high minimum wages and require a lengthy and costly process to get permission to open a business
A) Reducing either the minimum wage or the time and cost to open a business would have no effect on the long-run aggregate supply curve.
B) Reducing the minimum wage and the time and cost to open a business would both shift the long-run aggregate supply curve to the right.
C) Reducing the minimum wage would shift long-run aggregate supply to the right.Reducing the time and cost to open a business would have no affect on the long-run aggregate supply curve.
D) Reducing the minimum wage would have no affect on the long-run aggregate supply curve.Reducing the time and cost to open a business would shift the long-run aggregate supply curve to the right.
Correct Answer:
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Q2: The discovery of a large amount of
Q3: The long-run aggregate supply curve shifts right
Q4: Which of the following is correct?
A)The short-run,but
Q5: The long-run aggregate supply curve shifts left
Q6: Which of the following shifts long-run aggregate
Q8: The long-run aggregate supply curve shifts right
Q9: The long-run aggregate supply curve would shift
Q10: The long-run aggregate supply curve shows that
Q11: Figure 33-3. Q159: The classical dichotomy and monetary neutrality are
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