Examlex
Which of the following is true of welfare reforms in the United States?
Lower Production Costs
Lower production costs refer to a reduction in the expenses associated with creating a product or service, which can lead to increased profitability.
Economically Efficient
A situation in which resources are distributed in a manner that maximizes overall societal benefits.
Production Techniques
The methods and processes employed in the manufacturing of goods or provision of services, often aimed at improving efficiency and productivity.
Labor and Capital
The primary factors of production where "labor" refers to workforce efforts and "capital" denotes tools, machinery, and buildings used in production.
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