Some Countries Have High Minimum Wages and Require a Lengthy

question 256

Multiple Choice

Some countries 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:

Older Men

Adult males who are significantly older than the average adult population, often characterized by more life experience and, in some contexts, different social or economic positions.

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The condition of being separated from or lacking regular contact with other individuals, communities, or social networks.

Infertility

The inability to conceive a child after a year or more of regular sexual intercourse without the use of birth control.

Postponing Parenthood

The decision to delay having children until a later age due to various personal, career, or financial reasons.