The Concept of Value Added

question 47

Multiple Choice

The concept of value added

• A) is not applicable to intermediate goods.
• B) represents a firm's or industry's contribution to production.
• C) is the same as a firm's profits.
• D) refers to the nonmarketed goods and services not included in GDP.
• E) helps distinguish between current dollar GDP and real GDP.

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Definitions:

Hypertension

A condition characterized by consistently high blood pressure levels, often leading to serious health risks such as heart disease and stroke.

Dryness

A condition characterized by a lack of moisture in an area of the body, commonly affecting the skin, eyes, or mouth.

Nasal Septum

The cartilage and bone that divides the nasal cavity into two nostrils, which can be deviated or straight.

Speculum

A medical instrument used to dilate an orifice or cavity for examination purposes, such as during a gynecological exam.