The Advent of Computers and Deregulation of Banking in the 1970s

question 48

Multiple Choice

The advent of computers and deregulation of banking in the 1970s initiated major changes in our financial environment.One of the biggest changes was

• A) online banking.
• B) credit cards.
• C) home equity loans.
• D) easy student loans.

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Definitions:

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent and salaries.

Relevant Range

The span of activity or volume level within which the assumptions about fixed and variable costs are expected to hold true.

Direct Product Cost

The sum of all costs directly associated with the production of a product, including materials and labor.

Production Line Workers

Employees who work on the manufacturing line, directly involved in producing goods.