In Countries That Have High Minimum Wages and Require a Lengthy

question 74

Multiple Choice

In countries that have high minimum wages and require a lengthy and costly process to get permission to open a business

• A)Reducing either the minimum wage or the time and cost to open a business would have no effect on the long-run aggregate supply curve.
• B)Reducing the minimum wage and the time and cost to open a business would both shift the long-run aggregate supply curve to the right.
• C)Reducing the minimum wage would shift long-run aggregate supply to the right.Reducing the time and cost to open a business would have no affect on the long-run aggregate supply curve.
• D)Reducing the minimum wage would have no affect on the long-run aggregate supply curve.Reducing the time and cost to open a business would shift the long-run aggregate supply curve to the right.

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Definitions:

Breach-Of-Contract

The failure to perform as stipulated by the terms of a contract, without lawful excuse.

Compensatory

Related to compensation, it often refers to damages awarded in a lawsuit that are meant to reimburse the plaintiff for actual losses or harms.

Trademark

A symbol, word, or phrase legally registered or established by use as representing a company or product.

Distinctive Mark

A unique symbol or feature that distinguishes a product, service, or entity from others.