Durable goods - Study guides, Class notes & Summaries

Chapter 2 The Measurement and Structure of the National Economy Learning Objectives I. Section Goals A. Differentiate among the three approaches to national income accounting (Sec. 2.1) B. Explain how GDP is measured (Sec. 2.2) C. Discuss the measurement of aggregate saving and its relation to wealth (Sec. 2.3) D. Explain the calculations of real GDP, price indexes, and inflation (Sec. 2.4) E. Define real and nominal interest rates (Sec. 2.5) II. Notes to Ei...

BUSML 3250 Exam 3 Latest Update Already Passed product a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value good has tangible attributes that a consumer's five senses can perceive nondurable good an item consumed in one or a few uses, such as food products and fuel durable good a good that usually lasts over many uses, such as appliances, cars, and ...

When viewed as a tangible asset, real estate can be defined as the land and its permanent improvements. Improvements on the land include: A. fences B. walkways C. sewer systems D. streets correct answers A. Fences . Real estate is property, which can be either a tangible or an intangible asset. Which of the following would be considered an intangible asset? A. Land B. Building C. Mortgage D. Fence correct answers C. Mortgage If we desire to classify land by its use, land that does ...

Mechanisms of choice correct answers conflicts & trade offs made w/ every economic decisions. Mixed Economy correct answers An economy where the government has certain rules & regulations to allow. Laissez faire correct answers Hands off approach to the economy. Wrong mix of output correct answers The market/Government fails to signal things that people don't want. Government failure correct answers The government gets involved in the economy, & it doesn't help. Cetris Paribus c...

ECON 2301 Test 3 - Questions, Answers and Rationales GDP is: A. the total value of all consumer expenditures within a given period. B. national income after taxes. C. the total value of all final goods and services plus intermediate goods and services produced domestically within a given period. D. the value of all final goods and services produced domestically within a given period. E. the total value of all final goods and services minus the value of intermediate goods and services produced ...

PSU Econ 104 Final Exam – Brown (Graded A+) If the required reserve ration is 20%, the simple deposit multiplier is _______ A. 2 B. 5 C. 10 D. 20 -Answer-B. 5 1/.2 = 5 Imagine that Kristy deposits $10,000 of currency into her checking account deposit at Bank A and the reserve ratio is 20%. As a result of Kristy's deposit, Bank A's reserves immediately increase by: A. $2,000 B. $8,000 C. $ 10,000 D. $50,000 -Answer-C. $10,000 This is how much money she puts in the bank. Imagine...

Opportunity cost correct answers A cost of choosing one thing over the next best alternative. The economic problem correct answers The idea that resources are scare and wants are unlimited Economy correct answers Where people produce goods and services. Market correct answers Where a group of people willing to exchange goods and services meet. Perfect market correct answers Neither Consumer/producer solely influence the price charged for goods and services Imperfect market correct...

MGT 103 BATES MIDTERM questions and answers 100% correct marketing started production based; engineers the activity, set of institutions, and processes for creating, communicating, deliver- ing, and exchanging offerings that have value for customers, clients, partners, and society at large Eras of marketing 1. production 2. sales era 3. marketing concept era 4. customer relationship era need precedes a want; underlying necessity -basic physical and psychological needs ...

Greige goods are : Unfinished fabrics Which of the following is not a broad classification of the manufactured fiber industry? : Flax Which of the following is not a way in which producers of manufactured fibers sell their fibers to fabric manufacturers? : Under designer labels One who buys unfinished textile fabrics, contracts with outside firms for their finishing, and acts as his/her own selling agent for the finished goods is called : A converter Cotton production in the United S...

product correct answers is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. 5 Product Levels of Customer Value Hierarchy correct answers core benefit basic product expected product augmented product potential product core benefit correct answers the service or benefit the customer is really buying basic product correct answers the simplest f...