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
Economics
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How does the production possibilities frontier show that every choice involves a tradeoff?
What will be an ideal response?
Economics
If people assume that future rates of inflation will ________, they are said to have adaptive expectations
A) not be related to inflation rates of the past B) follow the pattern of inflation rates in the past C) be higher than inflation rates of the past D) be lower than inflation rates of the past
Economics