Which of the following will cause the aggregate supply curve to shift to the left?

Question

Quizplus · Accepted Answer

A higher minimum wage increases the cost of production for businesses, thus reducing their ability and willingness to supply goods and services at any given price level. This shifts the aggregate supply curve to the left. Lower tax rates and deregulation would decrease the cost of production and increase aggregate supply, while job and skills training would increase the productive capacity of the economy and shift the aggregate supply curve to the right.

Which of the Following Will Cause the Aggregate Supply Curve