The value added for a nation equals
A. all goods and services less the intermediate goods used in production.
B. the market value of all products and services less the market value of all intermediate goods.
C. input costs plus the value of intermediate goods.
D. the market value of intermediate goods less the value of all goods and services.
B. the market value of all products and services less the market value of all intermediate goods.
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Which of the following is(are) indexed to inflation?
A. Standard deduction B. Employer contributions to pensions C. Gifts and inheritances D. None of the answer options are correct.
Firms should hire additional units of a resource as long as the
a. marginal product of the resource exceeds the price of the resource multiplied by the quantity of output produced. b. marginal product of the resource is less than the price of the resource. c. price of the output produced is positive. d. marginal revenue product of the resource exceeds the cost of employing an additional unit of the resource.
If companies who took into account an externality want to supply more at any given price compared to the original supply, they must have addressed a:
A. network externality. B. social externality. C. positive externality. D. negative externality.
How do the price and quantity of a monopoly compare to that of a perfectly competitive industry?
What will be an ideal response?