Author Question: The federal government debt as a percentage of GDP fell A) from 1980-1992. B) from 2002-2007. ... (Read 141 times)

Jipu 123 · **on:** Jun 29, 2018

The federal government debt as a percentage of GDP fell

A) from 1980-1992.
B) from 2002-2007.
C) during the Great Depression.
D) during World War I and World War II.
E) from 1998-2001.

Question 2

Comment on the following statement: Firms should maximize the difference between marginal revenue and marginal cost.

What will be an ideal response?

chreslie · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

E

Answer to Question 2

The statement is false. Firms should maximize profit, which is the difference between total revenue and total cost. At the profit-maximizing level of output, marginal revenue is equal to marginal cost.