Classify each of the following items as a final good or service or an intermediate good or

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Classify each of the following items as a final good or service or an intermediate good or service and identify each item as a component of consumption expenditure, investment, or government expenditure on goods and services:

■ A new Renault car bought for your birthday

■ Weapons bought by the Russian government

■ Tortillas bought by a Mexican fast food stand

■ Glass bottles purchased by Perrier

■ A new house on the Caribbean island bought by Argentina’s president

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Related Book For  answer-question

Economics

ISBN: 9781292433639

14th Global Edition

Authors: Michael Parkin

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