Which of the Following Statements Is False

question 85

Multiple Choice

Which of the following statements is false?

• A) An increase in wage rates causes producers to move up along the SRAS curve.
• B) An increase in the price level causes producers to move up along the SRAS curve.
• C) The short-run aggregate supply (SRAS)curve is upward sloping.
• D) The long-run aggregate supply (LRAS)curve is vertical.

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Definitions:

Raw Materials

The basic substances or components that are processed or combined to manufacture finished goods.

Journalize

The process of recording financial transactions in a company’s accounting records, or journal, in chronological order.

Units

A measurement of quantity, such as items, hours, or other measures, used in the organization or operation of businesses.

Direct Labor

The wages and benefits paid to employees who are directly involved in the production process of a company's products or services.