The First Official Statement of Goals for Macroeconomic Performance in the United

question 60

Multiple Choice

The first official statement of goals for macroeconomic performance in the United States came with the passage of the

• A) Federal Reserve Act of 1913.
• B) Employment Act of 1946.
• C) Great Depression Act of 1933.
• D) Full Employment and Balanced Growth Act of 1978.

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Definitions:

Economic Growth

A rise in the output of goods and services within an economy over a specific time frame.

Employment Discrimination

The unfair or prejudicial treatment of individuals in the workplace based on race, gender, age, religion, nationality, or other non-merit factors.

Innovation

The act of converting a concept or innovation into a product or service that generates value or is something customers are willing to purchase.

Thomas Friedman

An American journalist, author, and three-time Pulitzer Prize winner known for his work on globalization and the modern world economy.