Which of the following shifts short-run aggregate supply right?
A)an increase in the price level
B)an increase in the minimum wage
C)a decrease in the price of oil
D)more people migrate abroad than immigrate from abroad

Question

Quizplus · Accepted Answer

A decrease in the price of oil would result in lower production costs for firms, thereby shifting short-run aggregate supply to the right. An increase in the price level (A) would decrease aggregate supply as firms would be producing less due to higher costs. An increase in the minimum wage (B) would increase production costs for firms, resulting in a leftward shift of short-run aggregate supply. Migration patterns (D) do not directly impact short-run aggregate supply.

Which of the Following Shifts Short-Run Aggregate Supply Right