A trade surplus exists if export spending is less than import spending

As a result of OPEC ________ oil prices in 1973 and 1980, real GDP in United States ________

A) increasing; increased B) increasing; decreased C) decreasing; increased D) decreasing; decreased E) increasing; did not change

The output at which average variable cost is a minimum is ________ than the output at which ________ is a minimum

A) the same as; average total cost B) the same as; marginal cost C) less than; average total cost D) less than; marginal cost