Question

What are intermediate goods?

Answer 1

Intermediete goods are the goods/services that used in the production of the final goods/finished products. Usually, intermediate goods are sold by one industry to another for the purpose of resale or reproducing the goods.

For example, Gold. Gold is an intermediate goods which become the material in the prodution of a necklace ( final goods).

Answer 2

1) goods used in the production of other goods

2) add togerher all the amounts spent on final goods and services

3) the products and income that are not reported as income to the government

4) gasoline

5) Real GDP is based on constant prices: nominal GDP is based on the current years prices.