An example of an intermediate good would be:

A. the rice used to make Chex cereal.
B. a bag of Uncle Ben's rice sold to consumers.
C. a bag of Quaker's rice cakes sold to consumers.
D. All of these are intermediate goods


A. the rice used to make Chex cereal.

Economics

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A person who has lost his or her job because it is now performed by a robot is structurally unemployed

a. True b. False Indicate whether the statement is true or false

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If products C and D are close substitutes, an increase in the price of C will:

A. tend to cause the price of D to fall. B. shift the demand curve of C to the left and the demand curve of D to the right. C. shift the demand curve of D to the right. D. shift the demand curves of both products to the right.

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A production possibilities frontier with a ________ shape indicates increasing opportunity costs as more and more of one good is produced

A) linear B) bowed outward C) bowed inward D) perfectly horizontal

Economics