A Characteristic of a Service Is That It Is _____

question 97

Multiple Choice

A characteristic of a service is that it is _____, since it cannot be stored and must be consumed simultaneously with its creation.

• A) durable
• B) separable
• C) indelible
• D) tangible
• E) perishable

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Definitions:

Government Purchases

Expenditures made by the government for goods and services that directly satisfy public consumption or are used in the production of other goods and services.

Stagflation

An economic condition characterized by slow economic growth, high unemployment, and high inflation, occurring simultaneously.

Demand-Management Policies

Strategies used by the government to influence the amount of aggregate demand in the economy, often through fiscal and monetary policies.

Automatic Stabilizers

Economic policies and programs designed to offset fluctuations in a nation's economic activity without additional intervention by the government or policymakers, such as progressive taxes and unemployment benefits.