When Wage Rates Rise the Short-Run Aggregate Supply Curve Shifts

question 173

True/False

When wage rates rise the short-run aggregate supply curve shifts to the right.

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Definitions:

Manufacturer

A business engaged in the transformation of raw materials into finished goods on a large scale for sale.

Merchandiser

A business or person that purchases goods to sell them at retail or wholesale, making a profit through the markup on sold goods.

Cost of Goods Sold

Costs directly linked to the creation of products sold by a business.

Fraud

Deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.