What Did the Great Depression and World War II Do

question 40

Multiple Choice

What did the Great Depression and World War II do to the public's expectations regarding employment?

• A) They made Americans realize that unemployment was an unfortunate but largely irremediable occurrence.
• B) They made Americans realize that unemployment could only be solved by a major international crisis, such as a war.
• C) They showed that the government could help to ensure full employment.
• D) They showed that the government could only solve unemployment when inflation levels were kept high.
• E) They showed that ill-advised government programs could cause large increases in unemployment.

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Definitions:

Joint Costs

Costs incurred in the process of producing two or more products simultaneously up to the point of separation.

Split-off Point

The stage in the manufacturing process where joint products are recognizable as separate products and can be individually processed further or sold.

Split-off Point

The stage in a production process where multiple products become individually identifiable and their costs can be separately assigned.

Outsourcing

The practice of hiring external firms to handle work normally performed within a company, often to cut costs or focus on core capabilities.