Identify how each of the scenarios affects short‑run aggregate supply.
1 answer:
Answer:
a. decrease
b. increase
c. increase
d. no change
Explanation:
A higher minimum wage increases labor costs for the firm and <u>aggregate supply decreases.</u>
An increase in productivity caused by the Internet <u>increases the aggregate supply curve.</u>
A decrease in taxes paid by firms reduces operating costs and causes the <u>aggregate supply curve to increase.</u>
If businesses anticipate a recession, the <u>aggregate supply curve decreases</u> as firms cut production levels.
A decrease in the personal income tax rate paid by households has no impact on aggregate supply; this would impact aggregate demand.
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