Question
Asked Aug 21, 2019
6 views

If manufacturers can reduce the cost of the goods they produce, the cost of living in a society will be _____, and the standard of living will ______.

a) reduced, decrease

b)increased, decrease

c)reduce,increase

d)increased, increase

check_circle

Expert Answer

star
star
star
star
star
1 Rating

Standard of living:

 

The standard of living in a society is the level of wealth, comfort and necessities available to the socioeconomic classes of the society. The standard of living includes the factors such as income, GDP, economic and political stability and so on.

 

Cost of living:

 

The cost of living is the amount of money needed to sustain a certain standard of living by affording the basic expenses in a society. If the cos...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in

Engineering

Mechanical Engineering

Industrial Engineering

Related Mechanical Engineering Q&A

Find answers to questions asked by student like you
Show more Q&A
add
question_answer

Q: Seven kilograms of air is contained in a constant volume tank at 327 degrees C and 120 kPa, then is ...

A: Calculate the entropy change of the air.

question_answer

Q: A piston-cylinder device initially contains 0.8 m^3 of saturated water vapor at 275 kPa. At this sta...

A: The initial volume of piston-cylinder device = 0.8 m3Initial pressure of water vapor = 275 kPaPressu...

question_answer

Q: A truck carries a crate which can slide. Suppose that the truck and the crate are initially travelin...

A: Given information:Intial velocity of truck is

question_answer

Q: Air enters the compressor of a gas-turbine plant at ambient conditions of 100 kPa and 30°C with a lo...

A: Given Information:For air compressor 

question_answer

Q: Refrigerant R-134a enters an adiabatic compressor as saturated vapor at 100kPa at a rate of 0.5kg/s ...

A: Obtain the properties of Refrigerant R-134a from “Saturated Refrigerant R-134a: Pressure table”, cor...

question_answer

Q: Determine the expected diffraction angle (in degrees) for the first-order reflection from the (310) ...

A: Given:310 set of planes,wavelength=0.0711nmRcr = 0.1249nm

question_answer

Q: For Non-flow Work fow systems with pv=const (Select All correct statements below):Work is directly p...

A: Among the given statement: statement 1, statement 2, statement 4 are correct.

question_answer

Q: The flexible band F is attached at E to the rotating sector and leads over the guide pulley G. Deter...

A: Draw the schematic diagram of the link BA as shown in figure (1).

question_answer

Q: Consider a simple Brayton cycle that uses air as the working fluid to operate a gas-turbine power pl...

A: Given information: