Intermediate goods are
A. the stock of all resources excluding labor.
B. goods that are used up entirely in the production of final goods.
C. equal to the receipts of firms.
D. goods that get sold to the U.S. government.
Answer: B
You might also like to view...
The theory of rational expectations, when applied to financial markets, is known as
A) monetarism. B) the efficient markets hypothesis. C) the theory of strict liability. D) the theory of impossibility.
When the Fed sells bonds in the open market, we can expect
A) bond prices and interest rates to fall. B) bond prices to rise and interest rates to fall. C) bond prices to fall and interest rates to rise. D) bond prices and interest rates to rise.
If an oligopolistic industry organizes itself as a cooperative cartel, it will produce a quantity of output ________ the competitive level and ________ the monopoly level.
a. equal to, more than b. less than, more than c. less than, equal to d. more than, less than
Which of the following is not a characteristic of a monopolistically competitive market?
A. Firms hold patents on their products. B. The products that firms sell are slightly different. C. Firms have some control over price. D. There are no artificial barriers to entry.