To Obtain the Factor Cost of a Good from Its

question 75

Multiple Choice

To obtain the factor cost of a good from its market price,

• A)add indirect taxes and subtract subsidies.
• B)subtract indirect taxes and add subsidies.
• C)subtract both indirect taxes and subsidies.
• D)add both indirect taxes and subsidies.
• E)subtract depreciation.

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Definitions:

Specialization

The process of focusing on a narrow area of knowledge or skill, often to improve efficiency and effectiveness in work or study.

Accountability

The principle that employees who accept an assignment and the authority to carry it out are answerable to a superior for the outcome.