A Reduction in Nominal Wages Will Cause Which of the Following

question 248

Multiple Choice

A reduction in nominal wages will cause which of the following?

• A) a movement along the short-run aggregate supply curve
• B) a shift of both the short-run and long-run aggregate supply curves
• C) a rightward shift in the short-run aggregate supply curve
• D) a leftward shift in the short-run aggregate supply curve to shift to the left

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Definitions:

Cost Effective

Achieving the desired outcome or result without wasting resources, particularly money, time, or effort.

Distribution Networks

The complex systems of relationships and pathways through which a product or service passes until it reaches the consumer, including warehouses, distributors, and retail outlets.

Supply Chain Objectives

The strategic goals set by a company to optimize its supply chain operations, which can include improving efficiency, reducing costs, and enhancing customer satisfaction.

Industry

A classification that refers to a group of companies that are related based on their primary business activities.