Intermediate Inputs Are

question 58

Multiple Choice

Intermediate inputs are

• A)goods used for household consumption only.
• B)goods used for government consumption only.
• C)goods purchased by one business from another to use in production.
• D)raw materials used in the production process.

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Definitions:

Used Textbook

A previously owned textbook that may be sold at a lower price than a new version of the same book.

Statistical Discrepancy

The difference between two figures that are expected to be equivalent, often arising from timing or measurement errors in data collection.

GDP

A metric for evaluating the economic success of a nation, Gross Domestic Product calculates the overall value of goods and services generated over a designated period.

GNP

Gross National Product; the total value of goods produced and services provided by a country during one year, including net income from abroad.