CLEP US Government

Category - Policy Processes

The Employment Act of 1946 was a turning point in US economic policy because it:
  1. Provided college funds for returning World War II veterans.
  2. Committed the national government to a policy of maintaining a healthy economy and promoting jobs.
  3. Created the Federal Reserve system.
  4. Reasserted the doctrine of free-market economics.
  5. Separated the IRS from the Department of the Treasury.
Explanation
Answer: B - The Employment Act of 1946 was a turning point in US economic policy because it committed the national government to a policy of maintaining a healthy economy and promoting jobs. Before the Employment Act, there was a lot of disagreement about whether it was even the government’s job to try to ensure a healthy economy, let alone promoting job creation. The Act created the Council of Economic Advisors, whose original mandate was to look at macro-economic (big picture) issues. The CEA is required to supply Congress with an economic forecast within ten days of the President submitting the annual proposed budget.
Was this helpful? Upvote!
Login to contribute your own answer or details

Top questions

Related questions

Most popular on PracticeQuiz