All of the Following Statements Describe Bernard Baruch's Leadership of the War

question 24

Multiple Choice

All of the following statements describe Bernard Baruch's leadership of the War Industries Board except

• A)war production increased substantially.
• B)his methods favored large corporations over small enterprises.
• C)his methods favored small corporations over large enterprises.
• D)the agency functioned better after he assumed leadership.
• E)industries were permitted to charge high prices.

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Definitions:

Comparative Advantage

The ability of a country or firm to produce a certain good or service at a lower opportunity cost than others, leading to more efficient trade possibilities.

Absolute Advantage

The ability of a country or entity to produce a good or service more efficiently than its competitors, leading to greater output with the same input of resources.

Comparative Advantage

The ability of an entity to produce a good at a lower opportunity cost than another, leading to potential trade benefits.

Loads

Charges or fees that investors pay when buying or selling mutual funds, often used to compensate sales intermediaries.