An Example of an Intermediate Good Would Be

question 164

Multiple Choice

An example of an intermediate good would be:

• A) lumber used by a consumer to build a fence in his or her yard.
• B) pencils purchased by a restaurant to be used to take orders.
• C) a new stove purchased by a restaurant.
• D) an airplane purchased by the government.
• E) Social Security payments made by the government.

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Definitions:

National Average

The average of a specific set of measurements or data points across the entire nation.

Confidence Interval

An estimate indicating the range within which a population parameter is likely to lie, with a certain degree of certainty, based on data from a smaller sample.

Margin of Error

An expression of the amount of random sampling error in survey results, indicating a range within which the true population parameter is expected to lie.

Sample Size

The number of individual observations or data points collected and used in a statistical analysis.