Since the economy was operating at less than full capacity when the U.S. entered World War II (1941–45), price controls did not surface until the end of the war
Indicate whether the statement is true or false
False
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The progressive income tax is an automatic stabilizer with respect to the Federal government's budget surplus or deficit because
A) individuals must "automatically" pay taxes even when they have a deficit. B) during periods of output growth, a greater percentage of real income "leaks" from the expenditure stream. C) during periods of output growth, the marginal leakage rate increases as taxes decrease. D) None of the above.
What is one reason car dealerships might move away from perfect price discrimination to uniform pricing?
A) Perfect price discrimination doesn't work. B) Transaction costs erode the profit of perfect price discrimination. C) Consumers are ill-informed and tend to complain too much. D) Uniform pricing is always more profitable and more fair as well.
As production of a good increases, opportunity costs rise because:
a. there will be more inefficiency. b. people always prefer having more goods. c. of inflationary pressures. d. workers are not equally suited to all tasks.
Domestic firms often claim that foreign firms have an unfair advantage because foreign workers are willing to work for very low wages
a. True b. False Indicate whether the statement is true or false