Write a simple paragraph in 3 sentences describing how the U.S. government managed the economy during World War I and the economic effects of that management. Consider the roles played by the Food Administration, the War Industries Board (WIB), and the War Labor Board.
During World War I, the U.S. government managed the economy through various agencies such as the Food Administration, which regulated food production and distribution to ensure an adequate food supply for the war effort. The War Industries Board (WIB) was responsible for overseeing production efforts to meet wartime demands, while the War Labor Board mediated disputes between workers and employers to prevent strikes that could disrupt production. Overall, these measures helped boost industrial production, stabilize prices, and ensure a steady flow of goods, but also led to inflation and labor unrest as workers demanded higher wages to keep up with rising prices.
