Jimmy Earl, a farmer, sells $20 worth of peanuts to a factory that manufactures peanut butter, which sells it for $45 . Which of the following is true?
a. Total value added is $65
b. The value of final sales is $65.
c. The value of final sales is $25.
d. Total value added is $25.
e. Total value added is $45.
a
Economics
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A) equals the number of employed plus unemployed B) is the working-age population C) does not include students D) is the labor force
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Suppose that the number of units of good X consumed falls 12 percent when the price of good Y falls 8 percent. The cross price elasticity of demand between goods X and Y is
A) 0.66. B) 1.75. C) 2.0. D) 1.5.
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