Economies of scale often arise because higher production levels allow specialization among workers.
Indicate whether the statement is true or false.
Answer: True.
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Shortly after the 2012 election, the AMT was reformed to
A. reduce the tax liabilities of the taxpayers with the lowest taxable incomes. B. index its thresholds for inflation. C. reduce the tax liabilities of the taxpayers with the highest taxable incomes. D. remove inflation.
The Social Security Administration estimates that the Social Security Trust Fund will ________ and that the Medicare Trust Fund will ________
A) become fully funded by 2036; become fully funded by 2024 B) continue to get smaller as the number of retirees increases; start to grow once funds from Obamacare are funneled to the program C) grow slowly as more workers retire; decline slowly as medical costs rise D) run out of funds in about 20 years; run out of funds in about 10 years
Andrew Carnegie was largely responsible for the development of the _________ industry; while John D. Rockefeller was largely responsible for the development of the _________ industry.
Fill in the blank(s) with the appropriate word(s).
If depreciation exceeds gross investment,
A. The difference between GDP and NDP is smaller than gross investment. B. The nation's capital stock is decreasing. C. The nations capital stock is increasing. D. Net investment exceeds depreciation.