All of the Following Were New Measures of Welfare Capitalism

question 29

Multiple Choice

All of the following were new measures of welfare capitalism in the 1920s EXCEPT:

• A)health insurance.
• B)retirement pensions.
• C)paid vacations.
• D)full union representation.

---

Definitions:

Opportunity Cost

The cost of the next best alternative foregone when making a decision.

Specialization

A focus on a narrow area of knowledge or skill, leading to greater efficiency and expertise in that area.

Farmer

An individual who engages in the act of agriculture, raising living organisms for food or raw materials.

Rancher

An individual responsible for the ownership or operation of a ranch, which is a property dedicated to breeding and raising animals like cattle or sheep, primarily for producing meat or wool.