Who Wrote the Book the Affluent Society in the 1950s

question 38

Multiple Choice

Who wrote the book The Affluent Society in the 1950s and challenged the idea that U.S.prosperity was solving difficult social problems?

• A)Maurice McDonald
• B)John Philips Souza
• C)John Galbraith
• D)George Meany
• E)Dwight D.Eisenhower

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Definitions:

Households

The basic economic units consisting of all individuals who live together and make joint decisions on consumption and labor supply.

Firms

Entities that produce goods or provide services, typically with the aim of making a profit.

Monetary Policy

The actions of a central bank, currency board or other regulatory authorities that determine the size and rate of growth of the money supply, which in turn affects interest rates.

Circular-Flow Diagram

A visual model showing the interactions between households and firms in an economy, illustrating the flows of goods and services and factors of production in markets.