The value of a producer's output minus the value of the inputs it purchases from other producers is called the producer's
A) surplus.
B) profit.
C) value added.
D) gross product.
C
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The experience of the HPAEs has brought attention to predictions about income inequality made by Kuznets. He predicted that at first income inequality would ________ as economies began to develop. In the HPAEs experience it ________
A) rise; rose B) decrease; decreased C) rise; fell D) fall; rose E) There was no pattern.
The spread between the interest rates on bonds with default risk and default-free bonds is called the
A) risk premium. B) junk margin. C) bond margin. D) default premium.
If a retail food chain merged with a meat packing company, this would be an example of a
A) horizontal merger. B) conglomerate merger. C) vertical merger. D) diagonal merger.
When considering international trade, which of the following would be most conducive to domestic economic growth?
A. an economy with free and open markets to the outside world B. an economy in which its domestic industries are protected by tariffs C. an economy in which most decisions are made by a central governmental authority D. a closed economy