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Which of the following goods is an intermediate good:

A. Lettuce that a restaurant buys to put on sandwiches
B. Tires that a car company buys to put on the cars it produces
C. A television set that Chi-Mai buys to put in her college dorm room
D. A and B
E. B and C

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Joshua Stredder
Joshua StredderLv10
5 Nov 2020

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Related questions

1. A consumer has a fixed amount of income to spend, and buys only goods A and B. The price of A is $10 and the price of B is $2. She is currently spending all of her income per week and is buying some amount of A and some amount of B, such that the marginal utility of good A is 200 and the marginal utility of good B is 50. Which of the following answers is most correct?

She is currently maximizing her utility, and should continue to purchase the current combination of A and B.
She could increase her utility if she buys more A and cuts back on B.
She could increase her utility if she buys more B and cuts back on A.
She should buy more A without cutting back on B.

Which of the following is included in U.S. GDP?

i) the rental value of homes owned by U.S. citizens.

ii) the production of Suburban SUVs by GM in its plant in Mexico.

iii) Tickets sold by U2 for concerts held in the United States.

A) ii only.

B) ii and iii.

C) i, ii and iii.

D) i and iii.

E) i only.

Which of the following is NOT directly included in Canadian GDP?

A) The purchase of tickets to a Kanye West concert in Montreal.

B) The sale of tickets to the Vancouver Oympics to U.S. citizens.

C) Gasoline purchased by a tour bus operator in Quebec.

D) Bus tickets sold to tourists for a tour bus ride in Montreal.

E) All of the items would be included in Canadian GDP.

Which of the following is classified as a final good or service?

i. tires bought by GM to put on new Tahoes

ii. mustard bought by Subway to put on its sub sandwiches

iii. your purchase of online access to the Wall Street Journal

A) i and ii.

B) i, ii and iii.

C) iii only.

D) ii and iii.

E) ii only.

Which of the following correctly describes a final good?

i) A final good is bought by its final consumer.

ii) A final good can be used by a firm as a component of another good or service.

iii) Investment goods cannot be a final good.

A) i only.

B) i and ii.

C) i, ii and iii.

D) i and iii.

E) ii and iii.

A restaurant buys fish to offer as a daily menu special. The purchase of the fish by the restaurant is

A) a consumption expenditure.

B) an investment.

C) an intermediate good.

D) an example of government expenditures on goods and services.

E) part of net exports if the fish was caught beyond the U.S. border.

Which of the following is classified as an intermediate good?

i) the purchase of a Big Mac by a college student

ii) McDonald's purchase of pickles

iii) a McDonald's restaurant owner's interest payment for the loan on her building.

A) ii only.

B) ii and iii.

C) i only.

D) i and iii..

E) i, ii and iii.

Which of the following would NOT be directly included in the U.S. GDP in 2010?

A) the market value of restaurant meals sold in 2010

B) the market value of the jet fuel bought by Delta to use for its flights in 2010

C) the value of the automobiles produced in 2010 at the Toyota plant located in Georgetown, KY

D) legal services provided to first time home buyers during 2010

E) the purchase of a new home in Atlanta, Georgia in 2010

Which of the following is the best example of an automatic stabilizer.

a. Joe buys fewer apples and more oranges due to an increase in the price of apples.

b. Joe buys more apples when his income increases.

c. Joe buys an apple slicer when the price of apples decreases

d. Joe buys less sugar as a result of an increase in the price of apples  

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