If a firm needs one machine to produce a product, and must ...

[saraeharris]

If a firm needs one machine to produce a product, and must replace the machine when it wears out, then the firm should pick a durability level of the machine that
 
  A) minimizes the expense today.
  B) minimizes the present discounted cost of having the machine forever.
  C) maximizes the future value of the machine.
  D) minimizes the future value of the machine.

Question 2

Describe the role of the President in the budgetary process prior to 1921 and the President's role in the budgetary process after 1921 . Explain why this change in process might have made sense.
 
  What will be an ideal response?

[joechoochoy]

Answer to Question 1

B

Answer to Question 2

Prior to 1921 federal agencies would submit budget requests to the Treasury Department. The Treasury Department would then compile the requests and give them to Congress. The President had no direct role in the budget prior to 1921 . After 1921, federal agencies submit budgetary requests to the Office of Management and Budget. After the requests are reviewed and compiled into a comprehensive budget, the President forwards the budget to Congress. Given the increased government spending and activity occurring around World War I, this change probably made sense because it created a comprehensive review of the budget where the executive branch could compare one agency's budget and activities against another's.