Which of the Following Statements Is FALSE

question 76

Multiple Choice

Which of the following statements is FALSE?

• A)The aggregate demand curve is downward sloping.
• B)The long run aggregate demand curve is upward sloping.
• C)The short-run aggregate supply curve is upward sloping.
• D)The long-run aggregate supply curve is vertical.

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Definitions:

Appraisal Costs

Expenses incurred to inspect and test materials and products to ensure they meet the required quality standards.

Activity Costs

Expenses related to the specific activities or operations within a company, often used in activity-based costing.

Lean Accounting

An approach within accounting aimed at improving operational efficiency by reducing waste and streamlining processes without sacrificing quality or performance.

Transactions

Transactions refer to the exchange of goods, services, or funds between two or more parties, which are recorded and form the basis of accounting.