For each of the following products state if it is a final or intermediate good and explain why? A brick, a cell phone, and a barrel of crude oil.
Q: Distinguish the final goods or services, intermediate goods or services, and capital goods?
A: Intermediate goods are defined as those goods which are a part of the final good as they have been…
Q: Q4: British Columbia (BC) produces lumber and films. Show the impact of each of the following events…
A: Hello, Thank you for the question. Since there are multiple subpart questions posted here, only the…
Q: Q4: A farmergrows a bushelof wheat and sells it to a miller for $1.00. The miller turns the wheat…
A: The value addition defines the number of features or economic value added by an organization to a…
Q: Use the numbers to calculate Econ Land's Green GDP
A: Green GDP: It is an indicator of economic growth with environmental factors taken into consideration…
Q: The country of Econoland produces two goods: textbooks and widgets. Last year, it produced 200…
A: Production of both goods has increased in the Econoland. Production increases Or PPC shifts by…
Q: Answer the relevant questions about an economy with the following information. a. Gross Domestic…
A:
Q: Discuss the economic impact of GDP on investments ?
A: Gross Domestic Product is defined as the value of all the financial goods and services that are…
Q: What are the single - use goods and the durable goods in economics with examples
A: In simple words economic services or the goods are those goods which are initially produced by the…
Q: A sold goods to B for 20000. B whoes value added is 40000 sell half of its output to c and remaining…
A: GVA is the result of the country less the middle of the road utilization, which is the contrast…
Q: Identify the major ways of measuring economic activity.
A: Economic activity is measured through the Gross Domestic Product (GDP), Gross National Product (GNP)…
Q: Suppose the economy is four sectors economy. The economy is represented by the following: C = 400 +…
A: Aggregate expenditure equation: AE = C + I + G + NX => AE = 400 + 0.40Yd + 25 + 40 + (-25) Note:…
Q: how to find gross investment in the economy? is it correct if i add Net investment to Capital…
A: Investment: The term investment refers to the increase in the stock of capital. Here, capital is…
Q: Your answer: 1 Countries with a high gross domestic product are low consumers of energy. 2…
A: There is direct relationship in energy consumption and gross domestic product.
Q: Economy can be represented by economic models. One of the models we use to understand economy is a…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: YAt right is a simplified circular-flow diagram for the economy of Micronia. (Note that there is no…
A: We are going to find the disposable income, Gross domestic product to answer this question.
Q: Which of the following is an example of a final good or service? wheat a bakery purchases to make…
A: Computer purchased would be final good.
Q: With the help of appropriate examples, explain the concept of value added.
A: Product or value added method is a method of calculating Gross Domestic Product.
Q: The following is considered in GDP- Select one: a. Longer-term environmental damage b. None of these…
A: The GDP per capita represents the standard of living of the individuals in the economy and it is…
Q: example of a significant aspect of an economy?
A: Economy- It is a group of activities related to production and consumption which helps in the…
Q: Describe the four measures taken for investment?
A: Investment refers to the addition or acquisition of assets with the goal of making income or profit.
Q: In evaluating the present value of cultivable land, some economists include the present value of the…
A: Given a specified return rate, the present value of an investment is the current worth of that…
Q: · At the beginning of the year, you have a saw worth $2,000 and a bunch of trees. •…
A: GDP is the total value of goods and services produced within the domestic territory of a country…
Q: What is the process used to evaluate the net economic change brought about by an event?
A: When talking about evaluation of net economic changes in the given situation due to the occurrence…
Q: Is the purchase of equipment or machinery a part of consumption or investment?
A: Economics is the study of how the scarce resources of society are exploited. Economics is a social…
Q: Which of the following are final goods or services,and which are intermediate goods or services?a.A…
A: Final goods and services are those goods and services that end up in the hands of the consumers as…
Q: Subject: Business Economics Q): An economy produced three goods: organ, apple & organ juice. It is…
A: In financial aspects, the GDP deflator is a proportion of the degree of costs of all new, locally…
Q: Which of the following are final goods or services, and which are intermediate goods or services? a.…
A: There are two types of goods and services: Final (finished) goods or services and Intermediate…
Q: List the four participants who influence the flows of production, income and expenditure in an…
A: The following are four participants who have an impact on the flow of production, income, and…
Q: State the three possible relationships between production, income and spending in macroeconomic…
A: The connection between production, income and spending is frequently called a utilization plan. It…
Q: How to evaluate the net economic change brought about by an event?
A: Economic Impact:- The entire proportion of total money flowing into a specific region as a result…
Q: ose an extremely simple economy wo goods, pillows and rugs. In the Lows are produced and sold at $5…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: consume
A: The question concern the paradox of thrift. If all the people of the economy increase the proportion…
Q: relationships between total production, total income and total spending?
A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…
Q: explain the difference between intermediate goods and final goods and give an example of each.
A: Definition: Final goods are those goods that are consumed directly. Intermediate goods are those…
Q: What are the major discrepancies that exist between the manufacturing activity and the consumption…
A: Lets understand the coordination between the manufacturing activity and consumption activity with a…
Q: Assume the economy experiences an increase in non-market transactions and a decrease in market…
A: Non-market transactions is an economic transaction or activity that happens in the informal area…
Q: An example of a stock variable is A. real GDP. B. consumption expenditure by households. C. gross…
A: Answer is given below
Q: How does the decline of natural resources and biodiversity affects Gross Domestic Product and Gross…
A: Gross domestic product: Gross domestic product (GDP) refers to the final value of all the goods and…
Q: Which of the following is NOT accounted in the expenditure approach? a. Food b. Furniture c. Used…
A: GDP is the value of all final goods and services produced in an economy over a period of time. There…
Q: If all quantities produced rise by 5 percent and allprices fall by 5 percent, which of the following…
A: When the quantity produced increases by 5 percent, it will increase the real GDP of the economy by 5…
Q: Describe and use at least five pieces of real economic data to explain the current state of the U.S.…
A: Present status of the U.S economy in second from last quarter Real gross domestic product (GDP)…
For each of the following products state if it is a final or intermediate good and explain why? A brick, a cell phone, and a barrel of crude oil.
Step by step
Solved in 2 steps
- explain the difference between intermediate goods and final goods and give an example of each.Describe the four measures taken for investment?Give an example of a final good and an intermediate good. A _______ is a final good and _______ is an intermediate good. A. tank of gasoline bought by you; jet fuel bought by Southwest Airlines B. new car bought by a student; a used SUV bought by a dealer C. new textbook; a used textbook D. new iPhone bought by a student; a new computer bought by Walmart to manage its inventories
- Suppose an economy consists of only three goods, as shown in this Table: What is real GDP in 2020 and 2021? How much (in percentage terms) did real GDP change between 2020 and 2021?Please no written by hand and no image In order to compare the market value of various things produced within an economy, a common unit is used, which has been the _____ an object.The following is considered in GDP- Select one: a. Longer-term environmental damage b. None of these c. Changes in the distribution of income d. A value for household labor e. depreciation of natural capital
- One of the following best explains consumption spending Select one: a. Spending on final consumer goods b. Spending on capital goods c. None of the option are correct d. Spending on infrastructureClassify 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. A. A textbook bought by a student B. A computer purchased for a senator's office C. New cars bought by Hertz, the car rental firm D. Aluminum sheets bought by Boeing 1. A is a final good that is consumption expenditure, B is a final good that is government expenditure, C is a final good that is investment, and D is an intermediate good. 2. A is a final good that is investment, B is an intermediate good, C is a final good that is investment, and D is an intermediate good. 3. A is a final good that is consumption expenditure, B is an intermediate good, C is a final good that is consumption expenditure, and D is a final good that is investment. 4. A is a final good that is consumption expenditure, B is a final good…Classify the type of expenditure in the following transactions. Tuition paid by your parents is _______. A new office building is _______. A. consumption expenditure; consumption expenditure B. investment; investment C. government expenditure; investment D. consumption expenditure; investment
- Suppose that real GDP is currently $97 billion peryear and natural real GDP is currently $100 billion. what is the GDPgap?An economy produces final goods and serviceswith a market value of $5,000 billion in a givenyear, but only $4,500 billion worth of goods andservices is sold to domestic or foreign buyers. Isthis nation’s GDP $5,000 billion or $4,500 billion?Explain your answer.What are the single - use goods and the durable goods in economics with examples