Refer to the consumption schedule above. The marginal propensity to consume is:

Under the gold standard, a country with a negative balance of trade would experience

A. an inflow a gold and higher prices. B. an inflow of gold and lower prices. C. an outflow of gold and higher prices. D. an outflow of gold and lower prices.

When the marginal benefit of an output exceeds the marginal cost

A. production of that output should be increased, in order to maximize economic surplus. B. increasing the production of that output would increase the missing surplus. C. reducing the production of that output would reduce the missing surplus. D. production of that output should be decreased, in order to maximize economic surplus.