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WW1 Economics > Economics P6 > Flashcards

Economics P6 Flashcards

0
Q

British troop transport vessels made up nearly half of the entire…

A

US Fleet

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1
Q

How much US cargo was shipped to Europe during the war?

A

7.5 Million Tons

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2
Q

The US troops were carried on who’s ships to Europe?

A

Britain and Emergency Fleet Corporation

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3
Q

How many new US ships ( in tons ) were made during WWI?

A

2 Million Tons

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4
Q

What US board was in charge of coordinating the government’s procurement of war products?

A

War Industries Board

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5
Q

What was the most important function of the WIB?

A

Price Fixing

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6
Q

What committee of the WIB handled price fixing?

A

Price Fixing Committee

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7
Q

What strategy did the Price Fixing Committee utilize?

A

Bulk-Line Pricing

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8
Q

What was the biggest challenge for the Price Fixing Committee?

A

The Varying Costs of Different Firms

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9
Q

Bulk-Line pricing resulted in what?

A

Shortages

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WW1 Economics (19 decks)

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