Which of the following is included in Gross Domestic Product (GDP)?
A. government transfer payments
B. private transfer payments
C. the buying and selling of securities
D. the sale of used goods
E. none of these
Answer: E
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Refer to the information provided in Figure 13.2 below to answer the question(s) that follow. 
Figure 13.2 Refer to Figure 13.2. The marginal revenue of the sixth pound of cheese is
A. -$4. B. -$1. C. $1. D. $4.
The ratio of public debt to GDP for the United States,
a. is higher than it was in the 1940s b. is not unlike the ratios in most industrialized countries c. is substantially less than the ratios in most industrialized nations d. is approximately 0.33 e. puts the U.S. economy on the verge of bankruptcy
Suppose at present people hold a quantity of money equal to 80% of nominal GDP. What happens to velocity if people wish to increase their money holdings to 85% of nominal GDP?
A) Velocity can increase or decrease depending on people's tastes and preferences toward money. B) Velocity is unaffected. C) Velocity increases. D) Velocity decreases.
Which one of the following is a source of conflict between owners and managers?
A. A manager's effort leaves the firm's value and the manager's utility unchanged. B. A manager's effort increases the firm's value but decreases the manager's utility. C. A manager's effort increases the firm's value and the manager's utility. D. A manager's effort decreases the firm's value and the manager's utility.