Which of the Following Is True of President Calvin Coolidge

question 65

Multiple Choice

Which of the following is true of President Calvin Coolidge?

• A) He raised tax rates on incomes over $50,000.
• B) He engaged in deficit spending.
• C) He vetoed bills that would have established government-backed price supports for staple crops.
• D) He supported attempts to enforce antitrust laws more strictly.

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Definitions:

Variable Cost

Outlays that adjust in accordance with the volume of production or output, like materials and labor costs.

Loan

A sum of money that is borrowed and expected to be paid back with interest.

Economies of Scale

Refers to the cost advantage that arises with increased output of a product, leading to a reduction in the per-unit cost.

Marginal Cost

An alternative phrasing expressing the additional cost incurred from the production of the next unit of output.