The Power of Congress to Influence Foreign Policy Through Setting

question 3

Multiple Choice

The power of Congress to influence foreign policy through setting the national budget and appropriating funds for various executive-branch departments, agencies, and bureaus is best described as

• A)legislative authority.
• B)the power to declare war.
• C)the power of the purse.
• D)oversight authority.

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Definitions:

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, typically resulting in lower per-unit costs with increased production.

Average Cost Curve

The average cost curve is a graphical representation showing how the average cost per unit of output varies with the level of output, typically U-shaped due to economies and diseconomies of scale.

Economies of Scale

Cost benefits that companies achieve because of their large scale of operations, generally resulting in a lower cost per output unit as the scale increases.

Per-Unit Costs

The average cost for each individual unit of product produced, taking into account all fixed and variable expenses.