An example of an intermediate good or service would be:
A. sacks of groceries bought by a dentist for his family.
B. a car bought by a stockbroker for commuting to work.
C. a desk bought by an accountant for her office.
D. bricks bought by a homeowner for constructing a patio.
Answer: C
Economics
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Refer to the table above. When does diminishing marginal returns to capital set in?
A) When the second machine is used B) When the third machine is used C) When the fourth machine is used D) When the fifth machine is used
Economics
Refer to the graph below with three demand curves. A "decrease in demand" would be illustrated as a change from:
A. Point 1 to point 4
B. Point 1 to point 3
C. Line C to B
D. Line A to C
Economics