Which of the Following Statements Is False

question 11

Multiple Choice

Which of the following statements is false?

• A) Some prices in an economy adjust faster than other prices.
• B) Aggregate demand curves slope downward.
• C) Firms may not adjust their prices immediately because they may be unable to figure out whether a decline in demand is temporary or permanent.
• D) The absolute price of a good is the dollar or money price of the good.
• E) none of the above

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Definitions:

Liquidated Damages

are a predetermined amount of money agreed upon in a contract that one party will pay to the other in the event of a breach.

Liquidated Damages

A predetermined sum agreed upon by the parties to a contract to be paid as compensation in the event of a breach.

UCC

stands for the Uniform Commercial Code, a set of laws that provide legal standards and regulations for commercial transactions in the United States.

Non-breaching Seller

A seller who has complied with the terms of a contract and has not violated any conditions or obligations.