If Stricter Immigration Laws Are Imposed and Many Foreign Workers

question 195

Multiple Choice

If stricter immigration laws are imposed and many foreign workers in Canada are forced to go back to their home countries,

• A)the long-run aggregate supply curve will shift to the right.
• B)the long-run aggregate supply curve will shift to the left.
• C)we will move up along the long-run aggregate supply curve.
• D)we will move down along the long-run aggregate supply curve.
• E)the short-run aggregate supply curve will shift to the right.

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Definitions:

Total Variable Costs

The sum of expenses that vary directly with the level of production, such as materials and labor costs.

Total Costs

The aggregate amount of money spent on producing goods or delivering services, which includes both constant and fluctuating costs.

Marginal Cost

The cost incurred by producing one more unit of a product, which is pivotal for decision-making regarding production levels.

Marginal Product

Increment in production resulting from one extra unit of labor or capital.