The value added by any firm equals the firm's ________ from selling the product minus ________.
A. profits; the cost of inputs purchased from other firms
B. revenue; the cost of inputs purchased from other firms
C. revenue; labor expenses
D. profits; labor expenses
Answer: B
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If a bank receives a new transaction deposit of $10,000 and the reserve ratio is 15 percent, then the bank could expand its loans by as much as
A) $8,500. B) $1,500. C) $66,700. D) $15,000.
Which of the following is NOT true about the Great Depression?
A. Lasted from 1929-1933 B. unemployment rate was 25% and GDP fell 30% C. most severe downturn in US history D. severe inflation E. Stocks fell 90%
Which of the following is a disadvantage of? partnerships?
A. Simplicity B. Single layer of taxation C. Cost sharing D. More resources E. Unlimited liability
The official poverty rate in the United States includes
A. over 35 percent of the population. B. between 20 to 25 percent of the population. C. between 10 and 15 percent of the population. D. less than 5 percent of the population.