Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Classify each of the following items as a final good or service or an intermediate good or service and identify which is a component

image text in transcribed

Classify 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. Item 1. Newsprint bought by USA Today Item 2 A haircut bought by a student Item 3. The purchase of a new security system for Congress Item 4. New airplanes bought by Southwest Airlines Item 1 is and item 2 is Item 3 is and item 4 is OA. an intermediate good, a final good that is consumption expenditure OB. an intermediate good, an intermediate good OC. a final good that is investment, a final good that is consumption expenditure D. a final good that is investment, an intermediate goodi OA. a final good that is investment a final good that is consumption expenditure OB. a final good which is government expenditure a final good that is investment OC. a final good which is government expenditure, a final good that is consumption expenditure: OD. a final good that is investment a final good that is investment

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Tools for Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

7th edition

978-1118334331, 1118334337, 978-1119036449, 1119036445, 978-1119036432

More Books

Students also viewed these Accounting questions