to finance World War II, the federal government did all of the following EXCEPT
a. lauch bond drives
b. raise income taxes
c. use deficit spending
d. reduce corporite profits
any help..?
I figured out the answer by eliminating the three that are true. What do you think?
is it A?
It's definitely not A!!
Looks like A,B,C are true.. so D
To identify the correct answer, let's analyze each option and see if it fits the question.
a. Launch bond drives: During World War II, the federal government did indeed launch bond drives to raise money. Citizens were encouraged to buy war bonds, which were essentially loans to the government to fund the war effort. Therefore, option a is NOT the correct answer.
b. Raise income taxes: Another way the government financed World War II was by increasing income taxes. Higher tax rates were imposed to collect more funds from individuals to support the war. So, option b is NOT the correct answer.
c. Use deficit spending: Deficit spending occurs when a government spends more money than it collects in revenue, resulting in a budget deficit. During World War II, the U.S. government relied heavily on deficit spending to finance the war. This involved borrowing money to cover the war expenses, leading to a significant increase in the national debt. Therefore, option c is NOT the correct answer.
d. Reduce corporate profits: To finance World War II, the federal government did not reduce corporate profits. In fact, due to the high demand for war-related goods and services, many corporations saw huge profits during this time. Therefore, option d is the correct answer.
In conclusion, the correct answer is d. The federal government did all of the following to finance World War II, except for reducing corporate profits.