World War II led to a dramatic increase in economic growth in the United States because
A) the war caused the U.S.to move along its production possibilities frontier away from consumer goods and towards military goods
B) the economy was already at close to full employment
C) there were unemployed resources in the U.S.economy prior to the war
D) the economy shifted production towards more profitable consumer goods during the war
E) the opportunity cost of producing military goods increased considerably during the war years
Correct Answer:
Verified
Q72: The principle of specialization and exchange implies
Q73: Suppose that the United States has an
Q74: The world's total output will be greater
Q75: Which of the following best defines the
Q76: If Bob has an absolute advantage over
Q78: Specialization and exchange result in
A) lower production
Q79: Specialization leads to greater production than is
Q80: Molly needs 30 minutes to wash the
Q81: Jenni can change a car's oil in
Q82: Bill can cook dinner in 45 minutes
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents