Economic Efficiency Requires That Costs Associated with the Expansion and Utilization

question 73

Multiple Choice

Economic efficiency requires that costs associated with the expansion and utilization of capital be balanced against the

• A) future increases in output derived from improved tools and production methods.
• B) reduction in future employment due to automation.
• C) indirect costs of capital goods.
• D) need to maintain a reserve army of the unemployed.

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Definitions:

Snail Shell

The hard, spiral external shell of a snail, serving as both protection and support.

Myringoscope

A medical device used to examine the eardrum and the passage of the outer ear.

Eardrum

A thin membrane that separates the outer ear from the middle ear and vibrates in response to sound waves.

Audiometer

An instrument used to assess hearing acuity by generating tones of specific frequencies and intensities.