What is value added and how is it related to Gross Domestic Product (GDP)?
What will be an ideal response?
Value added is the dollar value of an industry's sales minus the value of intermediate goods used in production. Both Gross Domestic Product (GDP) and value added do not include the value of intermediate goods. Gross Domestic Product (GDP) can be calculated by adding up the value added at each stage of production.
You might also like to view...
British Petroleum will ultimately end up having to pay out more than ________ for legal settlements in the Deepwater Horizon drilling rig disaster.
A. $30 billion B. $50 million C. $100 billion D. $250 million
The ________ Crime Laboratory is one of the largest and most comprehensive forensic laboratories and is the only full-service forensic laboratory.
Fill in the blank(s) with the appropriate word(s).
What kind of image did Pablo Escobar cultivate in Envigado, a barrio outside Medellin?
a. a Robin Hood image b. an Al Capone image c. a John Gotti image d. He did not cultivate any kind of image.
If social media worked the other way, with citizens able to use it to alert the police of developing concerns, then which police responsibility would be most hampered?
a. Enforce laws b. Provide services c. Preserve the peace d. Prevent crime