Technology is a primary source of economies of scale for many firms.
Answer the following statement true (T) or false (F)
True
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Changes in business inventories are not considered part of gross private domestic investment spending
Indicate whether the statement is true or false
A GDP price chain price index number of 120.0 for a given year indicates that prices in that year are 20 percent higher than prices in the base year
a. True b. False Indicate whether the statement is true or false
If marginal costs are virtually zero after initial units are produced
A) inventors need to sell lots of units to make money. B) inventors need to be paid upfront. C) inventors need to sell their patents. D) none of these choices.
Which of the following is projected to rise from 8.3 percent of GDP in 2009 to about 13 percent by 2035 and about 20 percent in 2080?
a. Defense spending b. Medicare and Social Security spending c. interest payments on national debt d. infrastructure spending