Which of the Following Statement Regarding Aggregate Supply Is CORRECT

question 248

Multiple Choice

Which of the following statement regarding aggregate supply is CORRECT?

• A) Moving along the long-run aggregate supply curve, both the price level and the money wage rate change by the same percentage.
• B) Moving along the short-run aggregate supply curve, both the price level and the money wage rate change by the same percentage.
• C) Moving along the long-run aggregate supply curve, the money wage rate changes but the price level is constant.
• D) Moving along the short-run aggregate supply curve, the money wage rate changes but the price level is constant.

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Definitions:

Establishment of Responsibility

An accounting control principle that ensures tasks are assigned to individuals in a way that accountability can be determined.

Segregation of Duties

A risk management and control strategy that divides tasks among different people to reduce the risk of fraud or error.

Cash Register

A cash register is a mechanical or electronic device for registering and calculating transactions at a point of sale, equipped with a drawer for storing cash.

Independent Internal Verification

The audit process within an organization where transactions and processes are reviewed by a person not involved in their execution, aimed at enhancing accuracy and reliability.