Final answer:
Yes, the red triangle on a chemical label indicates its degree of flammability in the NFPA 704 system.
Step-by-step explanation:
The statement is true. The red triangle on a chemical label indeed indicates the degree of the product's flammability. This is part of the National Fire Protection Association's standard system for identifying the hazards of materials during emergencies, commonly known as the NFPA 704. This system uses a diamond-shaped diagram of colors and numbers to indicate the risks associated with a particular chemical, with the red section specifically addressing flammability.
Learn more about Chemical Flammability