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
D
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________________ is the analysis of how the burden of a tax is divided between consumers and producers:
a. Resale incidence. b. Price incidence. c. Cost incidence. d. Tax incidence.
Suppose the economy was in equilibrium, and the national government increased spending by $200 billion. Monetarist theory would predict that:
a. Both consumption and investment will fall, and net exports will rise. b. Consumption will fall, and both investment and net exports will rise. c. Any increase in government spending will be offset dollar for dollar by reduction in private demand. d. In the end, government spending, consumption, investment, and net exports will all settle back to their old position with no net change in any of them.
A price floor set below the equilibrium price causes a surplus in the market
a. True b. False Indicate whether the statement is true or false
Households in the Lowest Income 20%:
a. usually have the least one full-time, year round worker b. usually remain in this Group for decades c. both of the above d. neither of the above