When Would the Long-Run Aggregate-Supply Curve Shift Right

question 60

Multiple Choice

When would the long-run aggregate-supply curve shift right?

• A) when immigration increases or the government makes a substantial increase in the minimum wage
• B) when immigration decreases or the government abolishes the minimum wage
• C) when immigration increases or the government abolishes the minimum wage
• D) when immigration decreases or the government makes a substantial increase in the minimum wage

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Definitions:

Explanatory Variables

Variables in a statistical model that are used to explain variation in the response variable, also known as independent variables.

Indicator Variable

A variable used in statistical models that takes the value 1 if a specific condition is true and 0 if it is false, often used to represent categorical data in numerical form.

Logistic Regression

A statistical method for analyzing datasets in which there are one or more independent variables that determine an outcome, which is dichotomous.

Multiple Logistic Regression

A statistical technique that models the probability of a certain outcome or event based on more than one independent variable.