A firm's value added can be measured as the value of its
A) profits. B) total sales.
C) total sales, less purchases from other firms. D) purchases of inputs from other firms.
C
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If the price of parsley is $1, and the price remains unchanged no matter how much parsley is produced, then the AR curve
a. is an upward-sloping straight line b. is a downward-sloping straight line c. lies above the MR curve d. lies below the MR curve e. is a horizontal line
One reason that "near-monies" are important is because:
A. They simplify the definition of money and therefore the formulation of monetary policy B. They can be easily converted into money or vice versa, and thereby can influence the stability of the economy C. They do not reflect the level of consumer spending but they have a critical impact on saving and investment in the economy D. Credit cards synchronize one's expenditures and income, thereby reducing the cash and checkable deposits one must hold