Under oligopoly:
A. there are many sellers in the industry.
B. the demand for each firm's output is perfectly elastic.
C. there are only a few sellers in the industry.
D. there are no barriers to entry.
Answer: C
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Inventories are counted as investment because inventories are a source of future sales.
Indicate whether the statement is true or false.
Refer to Figure 3-1. A decrease in the price of the product would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.
Which of the following best describes most economists' approach to economic stabilization until the 1930s?
A. Use a sound finance approach during normal economic times, and a functional finance approach during a recession or a boom. B. Run larger deficits during recessions and smaller deficits during economic booms, counting on economic growth to be high enough to keep the debt-to-GDP ratio low. C. Maintain a balanced budget at all times, under the principle of sound finance. D. Economists were wholly concerned with microeconomics and had ignored problems of government deficits, debt, recessions, and economic growth.
Refer to the information provided in Figure 9.1 below to answer the question(s) that follow. 
Figure 9.1Refer to Figure 9.1. If this farmer maximizes profits, his revenue per bushel will be
A. $7. B. $9. C. $11. D. $15.