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.
Correct Answer:
Verified
Correct Answer:
Verified
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