The passage of the Employment Act of 1946 assigned:
a. the federal government the responsibility for promoting full employment and price stability
b. the federal government the responsibility for promoting free markets to achieve economic prosperity.
c. the federal government the responsibility to set a minimum wage for all agricultural workers.
d. state governments the responsibility to set a minimum wage for all industrial workers.
e. state governments the responsibility for promoting full employment and price stability.
a
You might also like to view...
If demand for clean water is specified as P = 140 – 2Q, and the market price is $40, then consumer surplus at that price level is
a. $2500 b. $3000 c. $1600 d. $50
Given the information in the table above, Foreign's opportunity cost of widgets is
A) 0.5. B) 2.0. C) 6.0. D) 1.5. E) 3.0.
Finding the occupation or business activity in which you are relatively more productive helps you earn more money than otherwise would be the case. This reflects the
A. Principle of compound interest. B. Law of diversification. C. Law of large numbers. D. Law of comparative advantage
Figure 9.6 represents the market for health insurance. Suppose there are two types of consumers, low-cost consumers with $2,000 average medical expenses per year, and high-cost customers with $4,000 average medical expenses per year. If the insurance companies are pessimistic and set their price according to their pessimistic expectations:
A. the companies' pessimism is not justified. B. the market will include some low-cost and some high-cost customers. C. the market will include only low-cost customers. D. the market will include only high-cost customers.