Identify the correct statement.
A) Savings reduces the current production of only capital goods.
B) Savings reduces the current production of only consumer goods.
C) Savings is necessary for production because production takes time.
D) Savings is necessary for production because production is expensive.
E) Savings is not necessary for production because the opportunity cost of production is zero.
Correct Answer:
Verified
Q1: The opportunity cost of producing capital goods
Q2: For a typical consumer,present consumption is _
A)preferred
Q3: If you would rather risk burning your
Q4: A positive rate of time preference means
Q5: Sally loves to see a movie as
Q7: Production cannot occur without _
A)saving.
B)government intervention.
C)a market
Q8: The benefit of the production of capital
Q9: If Arnold has a positive rate of
Q10: Banks and other financial institutions _
A)channel savings
Q11: The rate of time preference is positive
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