If a firm hires labor for $4,000,pays rent of $1,500,buys raw materials for $6,000 from another firm,earns profits of $500,and sells its output for $14,000,the value added by the firm is _____.
A) $12,000
B) $8,000
C) $6,000
D) $2,000
E) $500
Correct Answer:
Verified
Q55: The circular flow model shows that:
A)households are
Q56: Which of the following is an example
Q57: A farmer grows wheat and sells it
Q58: Which of the following statements is true
Q59: Which of the following is a problem
Q61: The gross domestic product (GDP)of an economy
Q62: The price index in the base year
Q63: The existence of the underground economy causes
Q64: Depreciation refers to:
A)the value of leisure goods.
B)changes
Q65: One of the limitations of the national
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