Value added is
A. the dollar value contributed to a product at the last stage of its production.
B. the price of an intermediate product.
C. the sum of the prices of intermediate products.
D. the amount of dollar value contributed to a product at each stage of its production.
Answer: D
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Which of the following should be increased during an expansion?
A) Government spending B) Unemployment C) Inflation D) Tax rates
A market structure in which only one firm has survived because of its economies of scale is called a
A. natural monopoly. B. planned monopoly. C. structural monopoly. D. free monopoly.
If an increase in the price of a product from $1 to $2 per unit leads to a decrease in the quantity demanded from 100 to 80 units, then the value of price elasticity of demand is
a. -1/3 b. -2 1/3 c. -1/4 d. -3 e. -2/3
The unemployment rate is the percentage of:
a. the total adult population without jobs. b. adults who are in the labor force but who do not have jobs. c. the total adult population that are not working full-time jobs. d. the population without jobs.