Cost Savings That Come from Learning by Doing Are Known

question 11

Multiple Choice

Cost savings that come from learning by doing are known as

• A) learning curves.
• B) economies of scale.
• C) learning effects.
• D) experience curves.

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Definitions:

Tax-Exempt

Not subject to tax by federal or local governments, often applied to charitable organizations or certain financial earnings.

Marginal Tax Rate

The rate at which the last dollar of income is taxed, reflecting the percentage of additional income that is paid in taxes.

Average Tax Rate

The ratio of the total amount of taxes paid to the total tax base (taxable income or spending), indicating the fraction of income or expenditure paid in taxes.

Payroll Taxes

Taxes imposed on employers and/or employees, and are based on the salary or wages of the employee.