Marginal costs will begin to rise at the point where
A. fixed costs increase.
B. variable costs increase.
C. diminishing marginal product begins.
D. average variable costs increase.
Answer: C
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In the above table, the private sector has a
A) surplus of $300 billion. B) deficit of $300 billion. C) deficit of $200 billion. D) deficit of $400 billion.
What accounted for much of policymakers' concern over U.S. current account deficits in the 1980s, 1990s, and 2000s?
A) The current account deficits were thought to be largely responsible for the federal budget deficit. B) Current account deficits lower U.S. interest rates, thereby leading to reduced domestic saving. C) Current account deficits require the United States to borrow funds from foreign savers. D) The United States had signed international agreements in which it had pledged not to run a current account deficit for more than three years in a row.