Since 1960, the only period of several years when the full-employment government budget deficit was negative (that is, there was a full-employment surplus) was

Suppose there is a firm that has no fixed costs. At the point where marginal cost equals average variable cost,

a. fixed cost is rising b. marginal cost is rising c. average total cost is rising d. average variable cost is falling e. there is no total cost

According to the principle of marginal productivity, if

a. the product price is less than marginal revenue product (MRP), the firm is using too little of the input. b. the price of an input rises, the quantity demanded of the input will increase. c. MRP is greater than product price, the firm should reduce the use of the input. d. price of the input equals MRP, the firm is maximizing profit.