Which of the Following Is a True Statement About the Impact

question 89

Multiple Choice

Which of the following is a true statement about the impact of World War II on the U.S.economy?

• A)U.S.GDP decreased dramatically from 1941 to 1945.
• B)The war time years were a period of prosperity for U.S.consumers.
• C)Less than 10% of the labor force was in the military or producing war goods.
• D)Increased production of tanks,ships,planes,and munitions accounted for most of the increase in GDP.

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Definitions:

Industry Profits

The total earnings of companies within a specific sector after all expenses are subtracted from revenue.

Perfectly Price Discriminate

A pricing strategy where a seller charges each buyer the maximum price they are willing to pay, resulting in the seller capturing all consumer surplus.

Widgets

Widgets are hypothetical, often simplified products or units used in economic and financial explanations and problems.

Total Revenues

The total money received by a company for goods sold or services provided during a certain time period.