The Aggregate Supply Curve Is Shifted to the Left

question 101

Multiple Choice

The aggregate supply curve is shifted to the left ( inward) by

• A)an increase in the price of any input to the production process.
• B)a decrease in the price of any input to the production process.
• C)the price of any input staying the same.
• D)None of the above is correct.

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Definitions:

Fair Labor Standards Act

U.S. law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards.

Heavy Machinery Work

Tasks or jobs that involve operating large machinery often used in construction, manufacturing, or transportation.

Hazardous Occupations

Jobs or professions that expose workers to risks that could harm their health or safety.

Davis-Bacon Act

A federal law that requires the payment of prevailing wage rates to all laborers and mechanics working on public construction projects.