What economic concept would be most closely associated with a situation where an aluminum plant uses extensive computerization on the production line to reduce per-unit costs of production?
A. Infrastructure.
B. Economies of scale.
C. Network effects.
D. Human capital.
Answer: B
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In recent years, the Chinese government's actions have had an impact on interest rates in the United States
Indicate whether the statement is true or false
The GDP includes government consumption such as
A. Social Security benefits. B. Medicare and Medicaid benefits. C. office products. D. transfer payments
Refer to the graph shown. Assume that the market is initially in equilibrium at a price of $6 and a quantity of 40 units. In equilibrium, consumer surplus is equal to:
A. 120. B. 40. C. 160. D. 80.
Arguments against the balanced budget amendment include which of the following?
A) A balanced budget amendment would increase capital formation. B) A balanced budget amendment would exert fiscal discipline on the federal government. C) A balanced budget amendment would limit Congress' ability to use fiscal policy during a recession. D) A balanced budget amendment would reduce the taxation burden on future generations.