A firm's value added equals
A) its revenue minus all of its costs.
B) its revenue minus its wages.
C) its revenue minus its wages and profit.
D) its revenue minus its cost of intermediate goods.
E) none of the above
D
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If a country has an absolute advantage in producing a product, it must also have a comparative advantage in producing that product
Indicate whether the statement is true or false
Intellectual property rights provided by patent systems typically ________
A) provide tax incentives to encourage research and development B) allow for the depreciation of capital C) compensate the government for building infrastructure D) last about twenty years
A decrease in the real interest rate in the United States will cause net capital outflows to ________ and cause the dollar to ________ relative to other currencies
A) increase; appreciate B) increase; depreciate C) decrease; appreciate D) decrease; depreciate
The ways to address agency costs include all EXCEPT
a. advertising for employee positions in as many outlets as possible b. requiring employees to punch time clocks c. spot checks of the quality of employee work d. replacing closed offices with cubical office spaces