A farmer raises free-range chickens, which he sells to a company for $1000. That company sells the ʺprocessedʺ
Chickens to a grocery store for $1600, which in turn produces roasted chickens which are sold to the public for
$2400. Based on this information, the value of total output is equal to
A) $1400.
B) $1600.
C) $2400.
D) $4000.
E) $5000.
Correct Answer:
Verified
Q8: The "value added" for an individual firm
Q8: Consider the circular flow of expenditure and
Q9: Consider a firm producing skateboards in one
Q10: Jodie's Bakery generates a yearly revenue of
Q10: Consider a firm producing car parts in
Q11: When adding up the value of all
Q12: Consider a firm providing consulting engineering services.In
Q15: In national-income accounting,"double counting"
A)occurs when the value
Q16: Suppose national accounting was done by adding
Q18: Total value added in an economy is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents