If aggregate demand shifts left, then in the short run a. the price level rises and real gdp falls. b. the price level falls and real gdp rises. c. the price and real gdp both fall. d. the price level and real gdp both rise.

Regarding the flow of costs through the inventory accounts, which of the following statements is incorrect? a. the costs flow from raw materials inventory to work-in-process inventory to finished goods inventory. b. the format for computing the amount used, manufactured, or sold is the same for all three inventory accounts. c. the final amount at each stage is added at the beginning of the next stage. d. purchases of raw material and freight in are debited to the work-in-process inventory account.