Macroeconomics: Principles, Problems, & Policies 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0-07766-077-3
ISBN 13: 978-0-07766-077-2

Chapter 7 - Measuring Domestic Output and National Income - Discussion Questions - Page 169: 3

Answer

Intermediate goods: cotton fibers, coal, lumber. Final goods: running shoes, watches, textbooks, sunscreen lotion

Work Step by Step

Intermediate goods are products in the production process that are used to make other goods. Final goods are goods purchased for direct use by end users.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.