Which of the Following Is an Example of an Intermediate

question 7

Multiple Choice

Which of the following is an example of an intermediate good?

• A)The flowers that Mr.Grover buys at a local nursery
• B)The flowers that Timmy picks from a neighbor's garden and brings to Mrs.Grover
• C)The flour that Grandma buys to bake a birthday cake
• D)The flour that Joe buys so that he can eat pizza three nights a week
• E)The flour that Amy orders each month for the bakery she manages

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Definitions:

Payments

Money transferred from one party to another in exchange for goods, services, or to fulfill a contractual obligation.

Account

A record or statement of financial expenditure and receipts relating to a specific period or purpose.

Effective Rate

The actual interest rate an investor receives or pays after the effects of compounding interest and all charges are considered.

End-Of-Month Payments

Payments that are due at the end of each month, commonly found in loan and lease agreements.