Which approach to calculating GDP is especially useful in clarifying the resale of existing goods?
A. The expenditure approach
B. The income approach
C. The value-added approach
D. Any of these measurements will allow that kind of clarification equally well.
C. The value-added approach
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Suppose the marginal propensity to consume (MPC) equals 0.80, an increase in autonomous investment of $100 will lead to an increase in real Gross Domestic Product (GDP) by
A) $100. B) $400. C) $500. D) $800.
Cross-price elasticity of demand measures the response in the
A. price of a good to a change in the quantity of another good demanded. B. quantity of one good demanded when the quantity demanded of another good changes. C. quantity of one good demanded to a change in the price of another good. D. income of consumers to the change in the price of goods.
If the social marginal cost of a good is very high relative to the private marginal cost, then a monopoly will most likely
A) produce more than the social optimum. B) produce less than the social optimum. C) produce the social optimum. D) produce zero pollution.
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 is maximizing his profits, his TVC is
A. $24. B. $42. C. $108. D. $255.