Final answer:
The statement is FALSE. President Woodrow Wilson did not adhere to a Laissez-faire economic policy during WWI; instead, the U.S. government took on a more interventionist role to support the war effort.
Step-by-step explanation:
The statement about President Woodrow Wilson using the economic policy of Laissez-faire during World War I is FALSE. During WWI, the United States under President Wilson actually saw an increase in government intervention. The war effort required significant coordination and support from the government, leading to more control over the economy. This included the establishment of regulatory bodies such as the War Industries Board, which orchestrated the production of war materials, and the National War Labor Board, which helped to resolve labor disputes that might impede war production.
The government also influenced the economy through mechanisms like war bonds to finance the war and imposed price controls on certain key products. This level of intervention contrasts sharply with the principles of Laissez-faire, which advocate for minimal government involvement in economic affairs. While the concept of Laissez-faire was more popular in the late 19th century, by the time of WWI and particularly under Wilson's leadership, there was a clear departure from these practices in favor of more active economic management to meet wartime needs.