Solved

If a Firm Hires Labor for $4,000,pays Rent of $1,500,buys

Question 162

Multiple Choice

If a firm hires labor for $4,000,pays rent of $1,500,buys raw materials for $6,000,earns profits of $500,and sells its output for $14,000,the firm's value added is


A) $12,000
B) $8,000
C) $6,000
D) $2,000
E) $500

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q157: Because of activity in the underground economy,<br>A)GDP

Q158: The base year for a price index

Q159: Use the following data to calculate GDP:

Q160: Which of the following statements is true

Q161: GDP reflects many things; however,it does not

Q163: Which of the following is the best

Q164: If aggregate income equals aggregate expenditure,which of

Q165: Which of the following is an injection

Q166: Each month,the Bureau of Labor Statistics calculates

Q167: Gross Domestic Product equals the<br>A)total output of