Since the Economy Was Operating at Less Than Full Capacity

question 28

True/False

Since the economy was operating at less than full capacity when the U.S.entered World War II (1941-45),price controls did not surface until the end of the war.

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Definitions:

Utilization

The extent to which a resource, such as equipment or labor, is used for its intended purpose, often expressed as a percentage.

Efficiency

The ratio of the useful output to the total input in any system, reflecting how well resources are utilized without waste.