Production refers to
A) physically producing material goods only.
B) any activity carried on by a firm, whether a corporation, partnership, or sole proprietorship.
C) any activity that results in the conversion of resources into goods and services that can be consumed.
D) any activity that causes a material conversion of manufactured goods.
C
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If official reserves increase, then we know that the
A) capital and financial account is positive. B) official settlements account balance is negative. C) capital and financial account and the current account must sum to zero. D) capital and financial account is negative. E) official settlements account balance is positive.
A lack of current saving can be offset by borrowing, but the availability of borrowing is limited by the prospects for future saving
a. True b. False Indicate whether the statement is true or false