If a Goal of a Nation's Residents Is to Increase

question 1

Multiple Choice

If a goal of a nation's residents is to increase marginal productivity, they should increase

• A) expenditures on education.
• B) the inheritance tax.
• C) exports.
• D) the marginal propensity to consume.

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Definitions:

Mixed Cost

A cost consisting both of variable and fixed components, which changes in total in response to changes in activity level but not necessarily in direct proportion.

Least-squares Regression

A method in statistics for finding the optimal line of fit by minimizing the sum of the squared deviations between real and estimated values.

Maintenance Cost

The expenses incurred to keep machinery, equipment, or buildings in operating condition and repair.

Machine-hours

An indicator of the duration for which equipment is utilized in the manufacturing process, commonly employed for distributing manufacturing overhead costs.