During World War I, West-European Governments

question 46

Multiple Choice

During World War I, West-European governments

• A) sought to strengthen free-market capitalism.
• B) nationalized transportation systems and industries.
• C) tried to avoid using women as workers in heavy industry, taking steps to protect their status within the home.
• D) made sure food supplies were plentiful.
• E) resisted imposing price, wage, and rent controls.

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Definitions:

Efficient Allocation

The distribution of resources in a way that maximizes the net benefit to society or achieves a desired outcome effectively.

Equitable Allocation

The fair and just distribution of resources among different groups or individuals.

Gains From Trade

The increase in utility or welfare that countries or individuals can achieve by specializing in the production of goods they are relatively more efficient at and exchanging them.

Decisions At Margin

The process of making decisions based on the additional benefit or cost of one more unit of change rather than on a total or average outcome.