***Aggregate supply will increase, decrease or remain the same for each of the follwing? A New sources of silicon are located in Wyoming. B New laws result in an influx of highly educated immigrants. C. A hurricane destroys 50% of the nation's oil refining capability. D. A new process for producing glass revolutionizes the industry. E. If government regulations force employers to provide dental insurance, the SRAS? F. Congress votes to increase farm subsidies by 15%. G. Congress votes to substantially increase the minimum wage.
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A: Increase (more natural resources) B: Increase (more labor) C: Decrease (less capital - less output) D: Increase (better technology) E: Decrease (higher costs of production) F: Increase (lower costs) G: Decrease (higher costs)
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