Praxis II Government/Political Science Exam Prep

Category - Praxis II Government/Political Science Test

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.
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