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STatiana [176]
3 years ago
13

Firms choose how to produce the goods and services they sell. In many cases, firms face a trade-off between using more workers o

r using more machines. For example,Many times in the past several decades, firms may have chosen between a production method in the United States that uses fewer workers and more machines and a production method in China that uses more workers and fewer machines.(T/F)
Social Studies
1 answer:
Ainat [17]3 years ago
8 0

Answer:

True

Explanation:

In order to produce something (to generate output), firms need inputs, and these inputs are called the factors of production. There are three factors of production: land, labor, and capital, and because all businesses require land to operate, the most common trade-off that firms face is between labor and capital.

Labor refers to workers, and capital refers to physical or monetary assets such as machinery or money.

Firms have to constantly decide whether to acquire more labor instead of capital, or viceversa, in order to maximize profit.

Manufacturing firms usually prefer to invest in physical capital, even if it means laying off workers. Automation is a perfect example of this, and one of the reasons, along with outsourcing, that has caused the loss of manufacturing jobs in the U.S.

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Under the Truth in Lending Act a consumer obtains a loan that is secured by a principal residence the has the right to rescind i
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Answer:

Under the Truth in Lending Act a consumer obtains a loan that is secured by a principal residence the has the right to rescind in three business days with the exception of a purchase and construction of a principle residence. This statement is TRUE.

Explanation:

The 'Truth in Lending Act' ( TILA) ensures that there is a specific way informed to use credit cards. It promotes the exposure of its terms and costs so that there is a standard way of calculating the cost of loan borrowing. This is a federal law in which lenders are required to provide clients with all the information of loan cost so that they can compare various loans that are given.

Under this act, debtors can cancel certain transactions for a period of three days from the date of transaction or the date from which notice has been given of their right to withdraw, whichever is later. Thus, the statement is TRUE.

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Under the HITECH Act of 2009, the privacy protections of HIPAA were strengthened and significantly expanded.

<h3>What was the HITECH Act of 2009?</h3>
  • The Health Information Technology for Economic and Clinical Health (HITECH) Act was signed into law on February 17, 2009, as part of the American Recovery and Reinvestment Act of 2009.
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Therefore, under the HITECH Act of 2009, the privacy protections of HIPAA were strengthened and significantly expanded.

Know more about the HITECH Act of 2009 here:

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MArishka [77]
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Answer:

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Explanation:

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