Answered: he economic institution that transforms…

he economic institution that transforms factors of production into consumer goods is: a. a firm. b. the government. c. lending institutions such as banks and credit unions. d. the stock market.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 4QR

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Question

The economic institution that transforms factors of production into consumer goods is:

a. a firm.

b. the government.

c. lending institutions such as banks and credit unions.

d. the stock market.

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