At the beginning of World War II, a rationing system was established in the United States. Ration stamps or cards were issued for a variety of commodities such as canned milk and gasoline
To receive a gasoline ration card, a person had to certify a need for gas. The ration cards ranged from the most limited A card which only allowed 3 to 4 gallons per week to the most generous X card, which allowed the carrier to buy an unlimited amount of gasoline. A government entity, the War Price and Rationing Board, decided who received and A or an X card. Gasoline cards were allocated through A) command.
B) market price.
C) majority rule.
D) force.
A
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If a tax was instituted such that every dollar collected in taxes from high income households resulted in a distribution of $.80 to low income households
A) efficiency and equality of incomes would both decrease. B) equality of incomes would increase but efficiency would decrease. C) efficiency would increase but equality of incomes would decrease. D) efficiency and equality of incomes would both increase.
The agreement that established a system of fixed exchange rates immediately following World War II is known as the: a. IMF agreement
b. World Bank agreement. c. Bretton Woods agreement. d. none of the above.