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 consgovernment expenditure on goods and services.A. A new limousine for the presidentB. Banking services bought by a studentC. New airplanes bought by United AirlinesD. Packing boxes bought by Amazon.comO 1. A is an intermediate good, B is a final service that is consumption expenditure,C is a final good that is investment, and D is a final good that is investment.O2. A is a final good that is government expenditure, B is a final service that is consumption expenditure,C is a final good that is consumption expenditure, and D is a final good that is investment.O 3. A is an intermediate good, B is a final service that is investment,C is a final good that is investment, and D is an intermediate good.O4. A is a final good that is government expenditure, B is a final service that is consumption expenditure,C is a final good that is investment, and D is an intermediate good.O 5. A is a final good that is government expenditure, B is a final service that is investment,C is a final good that is consumption expenditure, and D is a final good that is investment.

The correct option is:4. A is a final good that is government expenditure, B is a final service that…

Answered: Classify each of the following items as…

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

ChapterA: Working With Diagrams

Section: Chapter Questions

Problem 1QP

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