Classify each of the following items as a final good or service or an intermediate good or service, and identify which is a component of consumption expenditure, investment, or government expenditure on goods and services: Banking services bought by Google Security system bought by the New York Stock Exchange Coffee beans bought by Starbucks New coffee grinders bought by Starbucks Starbucks grande mocha frappuccino bought by a student New battleship bought by the U.S. Navy
Classify each of the following items as a final good or service or an intermediate good or service, and identify which is a component of consumption expenditure, investment, or government expenditure on goods and services: Banking services bought by Google Security system bought by the New York Stock Exchange Coffee beans bought by Starbucks New coffee grinders bought by Starbucks Starbucks grande mocha frappuccino bought by a student New battleship bought by the U.S. Navy
Chapter5: Gross Domestic Product
Section: Chapter Questions
Problem 9SQ
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Classify each of the following items as a final good or service or an intermediate good or service, and identify which is a component of consumption expenditure, investment, or government expenditure on goods and services:
- Banking services bought by Google
- Security system bought by the New York Stock Exchange
- Coffee beans bought by Starbucks
- New coffee grinders bought by Starbucks
- Starbucks grande mocha frappuccino bought by a student
- New battleship bought by the U.S. Navy
Expert Solution
Step 1
Final goods are produced products that are intended for immediate customer consumption. The items that are utilized to create final goods are referred to as intermediate goods.
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