Suppose a jar of orange marmalade that is ultimately sold to a customer at The Corner Store is produced by the following production process:Name of CompanyRevenuesCost of Purchased inputsCitrus Growers Inc.$0.750Florida Jam Company$2.00$.75The Corner Store$2.50$2.00What is the value added of Citrus Growers Inc.?
A. $0.75
B. $0.00
C. $1.75
D. $0.50
Answer: A
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If the consumption function is C = 25 + 0.9y and income increases by $100, then consumer spending will increase by
A) $10. B) $25. C) $90. D) $115.
How has economist Robert Fogel explained that economic growth is connected to life expectancy? Based on this connection, in what country would you expect to have a longer life expectancy, the United States or India? Explain
What will be an ideal response?
Risk averse people
A) will never hold bonds denominated in several different currencies because of transaction costs. B) will always hold bonds denominated in several different currencies because of transaction costs. C) may hold bonds denominated in several different currencies. D) may hold bonds denominated in several different currencies only if satisfying the well known interest party condition. E) will hold only domestic bonds because of the home bias effect.
Adaptive expectations are "__________" according to the New Classical economists because they __________ information it is possible to use in making a forecast
A) rational; include all B) rational; exclude some C) irrational; include all D) irrational; exclude some