A sales and operations plan for a manufacturing firm that centers on manufacturing rates and inventory holdings is:

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Which of the following results in an increase in the standard of living? a. an increase in unemployment pushes down the cost of production. b. wages go up to correct for the inflation of prices. c. income increases, enabling consumers to buy more goods and services. d. rising production costs drive up the price of goods and services.

Which of the statements is true about the values recorded in the balance sheet of a firm?