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How did the war industries board respond to the economic challenges of the wartime economy?
The War Industries Board responded to the economic challenges of the wartime economy by encouraging companies to use mass production. This eliminated waste which was more economical. The War Industries Board also help people find the right jobs through psychological testing which increased productivity.
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Why was hoover slow to respond to the economic crisis?
He didn't want to be shunned by the American economy, thus he hid inside his square office.
How did the economy respond to his efforts?
The economy generally responded positively to his efforts, showing signs of growth through increased consumer spending and investment. Key indicators, such as employment rates and stock market performance, improved as confidence in economic stability rose. However, the response varied across sectors, with some industries benefiting more than others, leading to a mixed overall outcome. In the long term, his initiatives laid the groundwork for sustained economic recovery and resilience.
How does a command economy respond to consumer demand?
Command economy, due to the imperfect market it always creats, it shall always supply economic goods(scarcity) in the market to alow high demand, hence monopoly of the market.
What is sticky wage theory?
It is an economic theory that states that wage rates are said to be "sticky" when they do not respond quickly to changes in demand or supply. An example would be employment contracts. If an economy is in recession or expansion, and the prices are either rising or falling, the wages of contract-bound employees do not change with economic changes.
N the 1930s what caused Canada to respond by raising its tax on goods imported from the US?
In the 1930s, Canada raised its import taxes on goods from the United States primarily in response to the economic pressures of the Great Depression. This protectionist measure aimed to shield Canadian industries from American competition and to encourage domestic production. The U.S. had already implemented its own tariffs, prompting Canada to reciprocate in an effort to protect its economy and jobs. This move reflected a broader trend of countries adopting protectionist policies during economic downturns.
What were the economic challenges to American farmers and how did farmers respond to these challenges in mid to late 1800s?
They had to borrow money to buy seed, fertilize, and equipment
Why was hoover slow to respond to the economic crisis?
He didn't want to be shunned by the American economy, thus he hid inside his square office.
How did each of them respond to the challenges facing the US?
how did each of them respond to the challenges facing the united states
How did voters in 1930 respond to the great depression in the US?
The voters blamed Hoover for not letting government helped economy while economic situation was in trouble.
How did the economy respond to his efforts?
The economy generally responded positively to his efforts, showing signs of growth through increased consumer spending and investment. Key indicators, such as employment rates and stock market performance, improved as confidence in economic stability rose. However, the response varied across sectors, with some industries benefiting more than others, leading to a mixed overall outcome. In the long term, his initiatives laid the groundwork for sustained economic recovery and resilience.
How does a command economy respond to consumer demand?
Command economy, due to the imperfect market it always creats, it shall always supply economic goods(scarcity) in the market to alow high demand, hence monopoly of the market.
What challenges does the church face today and how do they respond to these challenges?
false prophets
What is maykroekonomiks?
Maykroekonomiks, or microeconomics, is a branch of economics that focuses on the behavior of individual consumers, firms, and industries in making decisions about resource allocation. It analyzes how these entities interact in markets, how they respond to changes in prices and policies, and how they maximize utility or profit. By studying supply and demand, production costs, and market structures, microeconomics provides insights into the functioning of specific economic sectors and the overall economy.
What is an economic system in which production of goods and services is determined by demand from consumers?
A market economy is an economic system in which the production of goods and services is determined by the demand from consumers. Prices are set by supply and demand in the market, and businesses respond to consumer preferences in order to maximize profit.
What is sticky wage theory?
It is an economic theory that states that wage rates are said to be "sticky" when they do not respond quickly to changes in demand or supply. An example would be employment contracts. If an economy is in recession or expansion, and the prices are either rising or falling, the wages of contract-bound employees do not change with economic changes.
Why do politicians and policy makers try to control the economy?
Politicians and policymakers seek to control the economy to promote stability, growth, and equitable distribution of resources. By implementing fiscal and monetary policies, they aim to manage inflation, reduce unemployment, and stimulate economic development. Additionally, controlling the economy helps address social issues and respond to crises, ensuring that the needs of the population are met. Ultimately, effective economic management is crucial for maintaining public confidence and political legitimacy.
N the 1930s what caused Canada to respond by raising its tax on goods imported from the US?
In the 1930s, Canada raised its import taxes on goods from the United States primarily in response to the economic pressures of the Great Depression. This protectionist measure aimed to shield Canadian industries from American competition and to encourage domestic production. The U.S. had already implemented its own tariffs, prompting Canada to reciprocate in an effort to protect its economy and jobs. This move reflected a broader trend of countries adopting protectionist policies during economic downturns.
