If the price level and the money wage rate rise by the same percentage, the quantity of real gdp supplied and there is a movement up along the aggregate supply curve.

There is no change in the quantity of real GDP supplied and a movement occurs up along the economy's supply schedule in the long‐run that is the Long-run Aggregate Supply (LAS) curve if the price level and the money wage rise by the same percentage.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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