What did the Lever Food Control Act of 1917 give the U.S. federal government the power to do?
(a) Take over factories during periods of war
(b) Inspect meat-packing plants and control the quality of
work completed
(c) Buy, sell and distribute food during times of peace
(d) Seize Congressional control over food-related production
(a)
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The natural rate of unemployment is higher in Europe than in the U.S. due to ________
A) the greater relative strength of American unions B) the greater relative generosity of U.S. unemployment benefits C) the greater severity of the business cycle in Europe relative to the U.S. D) stricter European work rules
Heavy advertising expenditures usually indicate
A. oligopoly. B. pure competition or monopolistic competition. C. oligopoly or monopoly. D. differentiated pure competition or monopoly.
Kelly works at an ice cream shop and observes that the number of people buying ice cream varies greatly from day to day. For a couple of weeks she has recorded the number of people at the shop each day, as well as the daily temperature. If Kelly is using
the scientific method to better understand ice cream buying habits, her next step is to: A. conclude definitively that people buy more ice cream when the temperature rises. B. state her findings as a well-tested economic principle. C. use the observed data to form a hypothesis about ice cream buying behavior. D. throw out the data if it does not show a perfect relationship between buying habits and the other information she has collected.
According to economic historians, one result of international trade is that it
A. reduces the world-wide output of goods. B. reduces the world-wide consumption of goods. C. causes persistent world-wide inflation. D. aids in the international transmission of ideas.