Total utility increases if one more unit of a product is purchased and marginal utility is positive
a. True
b. False
Indicate whether the statement is true or false
True
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The short-run aggregate supply curve
A. shows the relationship between aggregate production and the price level holding constant potential GDP and all resource prices .
B. shows a negative relationship between the price level and real national income holding constant potential GDP and all resource prices.
c. shows what each producer is willing and able to produce at each level of income holding constant potential GDP and all resource prices.
d. becomes vertical if there is excess production capacity within the economy.
An improper bank reconciliation designed to conceal a cash shortage is more likely to overstate than understate the amount of outstanding checks.
a. true b. false