ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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World War II
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Hurricane Sandy
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1970s energy crisis
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1999 Baltimore Orioles exhibition game
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Detailed explanation-1: -World War II put a heavy burden on US supplies of basic materials like food, shoes, metal, paper, and rubber. The Army and Navy were growing, as was the nation’s effort to aid its allies overseas. Civilians still needed these materials for consumer goods as well.
Detailed explanation-2: -Americans would ration gas, food, and other goods during World War II, because they wanted everyone to have an equal amount and they didn’t want to run out of the necessities.
Detailed explanation-3: -Which of the following is the best argument against the rationing system used in the United States during World War II? Some people could still get as much as they wanted through the black market.
Detailed explanation-4: -Rationing can artificially depress the price by putting constraints on demand. Alternatively, price ceilings can be imposed; they risk the need for rationing in order to maintain a certain level of supply. In any case, rationing generally results in shortages.