Suppose now the government passes a law that significantly increases the minimum wage. This change in policy will cause the natural rate of unemployment to which will: O Shift the long-run aggregate supply curve to the right O Shift the long-run aggregate supply curve to the left Not impact the long-run aggregate supply curve Complete the following table by determining how each event impacts the position of the long-run aggregate supply (LRAS) curve. An investment tax credit increases the rate at which firms acquire machinery and equipment. The government allows more immigration of working-age adults who find work. For environmental and safety reasons, the government requires that the country's nuclear power plants be permanently shut down. Direction of LRAS Curve Shift
Suppose now the government passes a law that significantly increases the minimum wage. This change in policy will cause the natural rate of unemployment to which will: O Shift the long-run aggregate supply curve to the right O Shift the long-run aggregate supply curve to the left Not impact the long-run aggregate supply curve Complete the following table by determining how each event impacts the position of the long-run aggregate supply (LRAS) curve. An investment tax credit increases the rate at which firms acquire machinery and equipment. The government allows more immigration of working-age adults who find work. For environmental and safety reasons, the government requires that the country's nuclear power plants be permanently shut down. Direction of LRAS Curve Shift
Principles of Economics (MindTap Course List)
8th Edition
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter33: Aggregate Demand And Aggregate Supply
Section: Chapter Questions
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