The ________ Curve Has a Positive Slope Because as Prices

question 67

Multiple Choice

The ________ curve has a positive slope because as prices of final goods and services rise,prices of inputs rise more slowly.

• A)short-run aggregate supply
• B)long-run aggregate supply
• C)short-run aggregate demand
• D)long-run aggregate demand

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Definitions:

Indirect Materials

Indirect materials are supplies used in the production process that do not become an integral part of the finished product and are not directly traceable to specific goods or services produced.

Raw Materials

The basic materials and inputs used in the production process to manufacture finished goods.

Work in Process

Inventory that includes items being manufactured but not yet completed, representing a stage between raw materials and finished goods.

Raw Materials

are basic substances or components used in the manufacturing process to create finished goods.