Despite Its Promise, Welfare Capitalism Was Only Partially Successful Because

question 39

Multiple Choice

Despite its promise, welfare capitalism was only partially successful because __________.

• A) new immigrants refused to participate
• B) workers remained economically insecure and at the mercy of employers
• C) unions could offer better benefits than open shop businesses
• D) high taxes ate up most of workers' wage gains

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Definitions:

Binding Promise

A pledge or commitment that legally compels the promisor to fulfill the terms of the promise.

Illusory Promise

An agreement that fails to bind the promisor since it lacks the definiteness or the possibility of performance, making it unenforceable.

Pre-existing Duty Rule

A legal principle stating that a party's promise to perform a duty that is already owed under a contract does not constitute valid consideration for a new agreement.

Synthetic Fuel Oil

A liquid fuel produced from coal, natural gas, or biomass through chemical processes rather than by natural geological processes.