Goods used up entirely in the production of final goods are
A. production goods.
B. process goods.
C. inventory goods.
D. intermediate goods.
Answer: D
You might also like to view...
Refer to Figure 18-2. If the government imposes an excise tax of $1.00 on every unit sold, the government's revenue from the tax
A) is larger if the supply curve is S0. B) is identical under either supply curve. C) is larger if the supply curve is S1. D) is not maximized.
The distribution of income in developed countries is less egalitarian than less developed countries
a. True b. False Indicate whether the statement is true or false
If aggregate demand shifts inward over a long period of time, with aggregate supply held constant, the economy should experience
A. unemployment. B. budget surpluses. C. stagflation. D. inflation.
According to the Theory of the Second Best, why might market liberalization through elimination of some market distortions, such as particular trade restrictions, lead to social welfare losses?
What will be an ideal response?