The production of capital is a form of roundabout production.
Correct Answer:
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Q7: Saving is
A)helpful for production but not necessary
B)not
Q8: Which of the following is an example
Q9: Which of the following is an example
Q10: For the typical consumer, present consumption is
A)preferred
Q11: If a person produces capital goods, she
Q13: The opportunity cost of producing capital is
A)decreased
Q14: Goods and activities typically are more highly
Q15: Production cannot occur without
A)saving
B)government
C)a market system
D)low interest
Q16: Exhibit 13-1 Q17: Roundabout production occurs when
A)entrepreneurs hire others to
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