Which of the following is an intermediate product?
A. A road
B. Steel
C. Bread
D. A TV set
Answer: B. Steel
You might also like to view...
If your planned consumption expenditure is $600 per month and your disposable income is $500 per month, your
A) induced consumption is $600. B) saving is $100 per month. C) dissaving is $100 per month. D) autonomous consumption is -$100 per month. E) autonomous consumption must be zero per month.
Suppose money supply (M) = $500, real GDP (Y) = $1,000, and nominal GDP = $5,000. Calculate the value of velocity and the price level.
A) V=2;P=1 B) V=4;P=5 C) V=10;P=5 D) V=10;P=1
It costs a television manufacturer $1,000 to produce a plasma television. This manufacturer sells these televisions abroad for $750. This is an example of
A. dumping. B. a trade-related economy of scale. C. a negative tariff. D. an export subsidy.
A nation's real GDP was $250 billion in 2013 and $265 billion in 2014. Its population was 120 million in 2013 and 125 million in 2014. What is its real GDP growth rate in 2014?
A. 15.0% B. 6.0% C. 5.7% D. 1.1%