The increase in the trade deficit in the 1980's reflected a decrease in national saving that is associated with an increase in the government budget deficit

People who took out mortgages at the height of U.S. inflation in 1981:

A. paid much higher real interest rates than expected since inflation fell dramatically after 1981. B. paid much lower real interest rates than expected since inflation fell dramatically after 1981. C. paid much higher real interest rates than expected since inflation rose dramatically after 1981. D. paid much lower real interest rates than expected since inflation rose dramatically after 1981.

When a profit maximizing firm produces, they will be producing at that output at which marginal cost = marginal revenue

A. all of the time. B. some of the time. C. on rare occasions. D. none of the time.