Value added can be determined by:
A. summing the profits of all enterprises in the economy.
B. subtracting the purchase of intermediate products from the value of the sales of final products.
C. calculating the year-to-year changes in real GDP.
D. deflating nominal GDP.
B. subtracting the purchase of intermediate products from the value of the sales of final products
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Revenue is equal to
A) price times quantity. B) price times quantity minus total cost. C) price times quantity minus average cost. D) price times quantity minus marginal cost. E) expenditure on production of output.
To keep employees from shirking, you can invest in greater monitoring
a. even though monitoring is expensive b. especially when monitoring is efficient c. when employees respond well to incentive contracts d. when incentives solve both moral hazard and adverse selection problems with employees