Which of the following is not included in GDP calculations?
a. the value of an accountant's services
b. the value of 500 shares of Microsoft stock sold to an investor
c. the value of high-definition television sets produced, but not sold, during the year
d. the value of a haircut
b
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If the Federal Reserve chooses to fight high unemployment with expansionary monetary policy and firms and consumers expect this policy to increase inflation, which of the following would you expect to see?
A) an upward shift of the short-run Phillips curve B) a downward shift of the short-run Phillips curve C) a decrease in the long-run aggregate supply curve D) Both B and C are correct answers.
Which of the following measures of cost is best described as "the increase in total cost that arises from an extra unit of production?"
a. variable cost b. average variable cost c. average total cost d. marginal cost
Beth would like to invest in the stock market, but she has a low income. She would have to purchase shares of stock in just one or two companies, and she fears that is too risky. Which financial intermediary could best help her buy stocks in many companies with her limited assets?
a. a bank b. a savings and loan c. a mutual fund d. an insurance company
Refer to the information provided in Figure 7.5 below to answer the question(s) that follow. 
Figure 7.5Refer to Figure 7.5. Diminishing marginal returns set in after the ________ worker is hired.
A. first B. fifth C. eighth D. sixteenth