The value added of a producer is the
A) total amount for which all its products sell minus its change in inventories.
B) value of its total sales once externalities are accounted for.
C) value of its output minus the value of the inputs it purchases from other producers.
D) quality-adjusted amount of its total sales less any commissions paid.
C
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Bargaining between the management of a company and the management of a union is
A. a bilateral monopoly. B. collective bargaining. C. an open shop. D. a closed shop.
Which of the following indicates that the U.S. economy has become more stable since 1950?
A) longer recessions B) shorter expansions C) less severe fluctuations in real GDP D) All of the above indicate that the U.S. economy has become more stable since 1950.
Refer to Figure 7-2. With the tariff in place, the United States consumes
A) 18 million pounds of coffee. B) 20 million pounds of coffee. C) 26 million pounds of coffee. D) 38 million pounds of coffee.
Which of the following groupings correctly represents the Four Tigers (or Four Dragons)?
A) Thailand, China, Japan, and Malaysia B) Hong Kong, Singapore, South Korea, and Taiwan C) Japan, Hong Kong, Thailand, and Malaysia D) South Korea, China, the Philippines, and Japan E) Singapore, Malaysia, Indonesia, and India