When an Increase in the Minimum Wage Raises the Natural

question 48

Multiple Choice

When an increase in the minimum wage raises the natural rate of unemployment:

• A)the short-run aggregate-supply curve shifts to the right, and the long-run aggregate-supply curve shifts to the left
• B)the short-run aggregate-supply curve shifts to the left, and the long-run aggregate-supply curve shifts to the right
• C)both short-run and long-run aggregate-supply curves shift to the left
• D)both short-run and long-run aggregate-supply curves shift to the right

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Definitions:

Older Adults

Individuals typically aged 65 years or older, often characterized by various stages of health, cognitive function, and social engagement.

Younger Adults

Individuals in a demographic group that typically ranges from late adolescence to early middle age, often associated with periods of significant personal, professional, and developmental changes.

Continuity Theory

A psychological concept suggesting that individuals maintain consistent patterns of behavior, personality, and adaptation throughout their life.

Development

The process of growth, change, and progress in physical, social, economic, and emotional dimensions across the lifespan or within societies.