Value added equals the market price of the firm's product minus
A) the price of intermediate goods. B) wages and salaries.
C) the price of all factors of production. D) depreciation on plant and equipment.
A
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The most important role of the World Trade Organization is
(a) to promote market oriented economic policies. (b) to settle trade disputes. (c) to provide development assistance. (d) to help countries choose the appropriate level of a tariff or quota.
Resources employed to persuade government to redistribute income and wealth to special interests are unproductive
a. True b. False
Among the criteria used for identifying priority contaminants is that
a. the pollutant must occur in a private water system b. thecontaminant might have a negative effect on the ecology c. the pollutant must be a microorganism d. the contaminant may have an adverse effect on human health e. none of the above
Monetary policy refers to the government's attempt at smoothing business cycles through the use of changes in:
A. Tax rates B. Interest rates C. Wage rates D. Government spending