Transfer payments ___ counted in GDP. Also, they ___ a payment for a good or service the government received.

A monopolist faces the inverse demand curve P = 60 - Q. It has variable costs of Q2 so that its marginal costs are 2Q, and it has fixed costs of 30. At its profit maximizing output level, the monopoly's average cost is

A) 11. B) 13. C) 17. D) 21.5.

The money multiplier equals:

a. 1 / excess reserves. b. excess reserves / loans. c. required reserve ratio / excess reserves. d. 1 / actual reserves. e. 1 / required reserve ratio.