If We Sum Up the Value Added at Every Stage

question 56

Multiple Choice

If we sum up the value added at every stage of production of a good, we will get:

• A) the total cost of the labor used to produce the good.
• B) the prices of the factors of production used to produce the good.
• C) the final value of the good.
• D) the capital-labor ratio.

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Definitions:

Genetic Disease

A pathology caused by an abnormality in an individual's DNA, often inherited from parents, that can lead to various health issues.

Iron

A chemical element with symbol Fe and atomic number 26; an essential component of hemoglobin in the blood.

Centrifuging

The process of using centrifugal force to separate substances of different densities.

Plasma

The liquid component of blood in which the blood cells are suspended, comprising about 55% of blood's volume.