The value of corporate stocks and bonds traded in a given year is:
A. included in the calculation of gross private domestic investment.
B. included in the calculation of GDP because they make a contribution to the current production of goods and services.
C. excluded from the calculation of GDP because they make no contribution to current production of goods and services.
D. included in the calculation of net private domestic investment.
Answer: C
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To sell an extra unit of output, a perfectly competitive firm ________, and an imperfectly competitive firm ________.
A. need not alter its price; must lower its price B. must hope the market price falls; must lower its price C. must lower its price; must lower its price D. need not alter its price; need not alter its price
The marginal propensity to save is
a. the change in saving divided by the change in income. b. the change in income divided by the change in saving. c. saving divided by income. d. income divided by saving. e. saving divided by consumption.
A recent study on enrollment at a liberal arts college concluded that demand elasticity is 0.65 . The administration is considering a tuition increase to help balance the budget. The revenue-maximizing decision is to
a. decrease tuition, which should boost enrollment enough to balance the budget. b. decrease tuition, which would bring in more revenue. c. leave tuition as is-an increase would not help balance the budget. d. increase tuition, which would generate more revenue.
Refer to the information provided in Figure 9.4 below to answer the question(s) that follow. 
Figure 9.4Refer to Figure 9.4. In the short run this firm should ________ and in the long run this firm should ________, if economic conditions do not change.
A. continue to produce where MC = MR; shut down B. shut down; exit the industry C. continue to produce where MC = MR; expand D. exit the industry; shut down