Which of the following would NOT be included in this year's GDP?

Initially a firm pays a wage and gets an output per worker which are given index numbers of 1.00. Five possible 3 percent increases in the wage and the accompanying output per worker are as follows:

1.03 and 1.09, 1.06 and 1.17, 1.09 and 1.24, 1.13 and 1.29, 1.16 and 1.31. What is the efficiency wage? A) 1.03 B) 1.06 C) 1.09 D) 1.13 E) 1.16

A price discriminating monopsonist could increase its profits by

a. paying the minimum wages possible. b. hiring as little capital as possible. c. paying lower wages to workers with inelastic supply of labor curves than to workers with elastic curves. d. paying lower wages to workers with elastic supply of labor curves than to workers with inelastic curves.

A perfectly elastic demand implies that

a. buyers will not respond to any change in price. b. any rise in price above that represented by the demand curve will result in a quantity demanded of zero. c. quantity demanded and price change by the same percent as we move along the demand curve. d. price will rise by an infinite amount when there is a change in quantity demanded.

Suppose that at the prevailing yen-dollar exchange rate there is an excess demand for dollars. To stabilize exchange rates, the United States might

A. Lower taxes. B. Raise interest rates. C. Pursue contractionary monetary policy. D. Reduce government spending.