All of the leather that this question refers to was produced in the US by the X Company in 2017. Please indicate whether the leather should be counted as an intermediate good or as a final good for the US in 2017. --> In 2017, X Company sold $5,000 worth of leather to amateur drummers who like to make their own drum skins. final good or intermediate good? (choose) --> In 2017, X Company sold $100,000 worth of leather to its saddle subsidiary, which used all of the leather in 2018 to make saddles. final good or intermediate good? (choose) --> In 2017, X Company sold $250,000 worth of leather to Drew Simmons Sandals and Belts (Hershey PA), which used all of the leather in 2017 to make sandals and belts. final good or intermediate good? (choose) --> In 2017, X Company sold $90,000 worth of leather to the Animal Leather Company, a Canadian firm. Animal Leather Company used the leather in the same year to make tool belts. final good or intermediate good? (choose)
All of the leather that this question refers to was produced in the US by the X Company in 2017. Please indicate whether the leather should be counted as an intermediate good or as a final good for the US in 2017. --> In 2017, X Company sold $5,000 worth of leather to amateur drummers who like to make their own drum skins. final good or intermediate good? (choose) --> In 2017, X Company sold $100,000 worth of leather to its saddle subsidiary, which used all of the leather in 2018 to make saddles. final good or intermediate good? (choose) --> In 2017, X Company sold $250,000 worth of leather to Drew Simmons Sandals and Belts (Hershey PA), which used all of the leather in 2017 to make sandals and belts. final good or intermediate good? (choose) --> In 2017, X Company sold $90,000 worth of leather to the Animal Leather Company, a Canadian firm. Animal Leather Company used the leather in the same year to make tool belts. final good or intermediate good? (choose)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
100%
All of the leather that this question refers to was produced in the US by the X Company in 2017. Please indicate whether the leather should be counted as an intermediate good or as a final good for the US in 2017.
--> In 2017, X Company sold $5,000 worth of leather to amateur drummers who like to make their own drum skins.
final good or intermediate good? (choose)
--> In 2017, X Company sold $100,000 worth of leather to its saddle subsidiary, which used all of the leather in 2018 to make saddles.
final good or intermediate good? (choose)
--> In 2017, X Company sold $250,000 worth of leather to Drew Simmons Sandals and Belts (Hershey PA), which used all of the leather in 2017 to make sandals and belts.
final good or intermediate good? (choose)
--> In 2017, X Company sold $90,000 worth of leather to the Animal Leather Company, a Canadian firm. Animal Leather Company used the leather in the same year to make tool belts.
final good or intermediate good? (choose)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education