Each of the Following Is an Example of the Price

question 150

Multiple Choice

Each of the following is an example of the price mechanism at work,except when

• A)wage and price controls were used during World War II to control inflation.
• B)consumers curtailed driving their cars when the price of gasoline increased dramatically in 2005.
• C)American farmers during World War I expanded production on previously unused land in response to higher crop prices.
• D)factories of gas-guzzling automobiles shut down when the price of gasoline triples in less than three months.

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Definitions:

Depression

A mental health disorder characterized by persistently depressed mood or loss of interest in activities, causing significant impairment in daily life.

Incarceration

The state of being confined in prison or another facility as a form of punishment following a conviction for a crime.

Slum

Highly populated urban residential area consisting mostly of closely packed, decrepit housing units in a situation of deteriorated or incomplete infrastructure, inhabited primarily by impoverished persons.

"Racial Uniform"

The concept of dress or appearance that stereotypically signifies one's racial or ethnic group, often discussed in contexts of racial profiling or identity.