During World War II,the Labor Force of the United States

question 93

Multiple Choice

During World War II,the labor force of the United States

• A) was forced to contend with a large labor surplus.
• B) saw both 16 million people leave civilian labor for the armed forces and the supply of civilian labor decline by 25 percent.
• C) None of these answers is correct.
• D) saw the supply of civilian labor decline by 25 percent.
• E) saw more than 16 million people leave civilian labor for the armed forces.

Understand the concept of supply and demand in a market context.

Identify and differentiate between the various sectors of the economy.

Recognize the significance of productivity in the economic framework.

Understand the role of societal institutions in organizing economic activities.

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Definitions:

Accounts Receivable Control

Practices and procedures in place to monitor and manage the amounts owed to a business by its customers for goods or services delivered on credit.

Subsidiary Ledger

A detailed ledger that contains supporting information for a main accounting ledger, often used for accounts receivable or accounts payable.

Cash Receipts Journal

An accounting ledger in which all cash inflows or receipts are recorded.

Accounts Payable Subsidiary

A detailed ledger containing all individual creditor accounts, supporting the summary-level accounts payable figure in the general ledger.