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
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Bill uses his entire budget to purchase Pepsi and hamburgers, and he currently purchases no Pepsi and 6 hamburgers per week
The price of Pepsi is $1 per can, the price of a hamburger is $2, Bill's marginal utility from Pepsi is 2, and his marginal utility from hamburgers is 6. Is Bill's current consumption decision optimal? A) No, he should increase Pepsi consumption and reduce hamburger consumption. B) No, he should purchase more of both goods. C) Yes, the corner solution is best because his MRS is less than the price ratio. D) We do not have enough information to answer this question.
________ are likely a fixed cost of a firm.
A. Expenses for holiday office parties B. Utility costs C. The costs of raw materials used in production D. Mortgage payments for a new warehouse