Food rationing during World War I under the wartime food administration featured
a. voluntary calls for "Meatless Mondays" and "Wheatless Wednesdays."
b. a broad policy of direct controls on prices set by the Food Administrator.
c. rationing for all food products except sugar.
d. a pervasive belief that fear of government retribution, rather than appeals to moral principles, was key to reducing consumption, and maintaining food surpluses for export.
a. voluntary calls for "Meatless Mondays" and "Wheatless Wednesdays."
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Distinguish between fiscal imbalance and generational imbalance
What will be an ideal response?
The economic system that answers the What, How and For Whom questions by central authority is a:
a. market economy. b. command economy c. traditional economy. d. any of these
Money that a firm uses to buy the physical plant, equipment, and raw materials for production is called
a. profit b. loanable funds c. marginal revenue product of capital d. capital equipment e. total physical product of capital
Refer to Table 4.1. Mike's preferences are consistent with the More-Is-Better Principle because:
A. the two goods are perfect substitutes.
B. there are no empty cells.
C. in each column, the choices at the top are ranked lower than the choices at the bottom.