A Very Important Reason for Passage of the GI Bill

question 38

Multiple Choice

A very important reason for passage of the GI Bill was to:

• A) keep men in the military beyond their term of enlistment
• B) spend surplus funds in the federal budget
• C) help Roosevelt get reelected
• D) prevent the return of the Depression
• E) create a bureaucracy to administer it

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Definitions:

Labor-Capital Ratio

The ratio of labor inputs (workforce numbers or hours worked) to capital inputs (machinery, buildings, and technology) in production processes.

Capital Stock

The total amount of physical and financial assets owned by a business or country, including buildings, machinery, equipment, and shares.

Labor Productivity

The measure of economic performance that compares the amount of goods and services produced with the number of labor hours used to produce them.

Per-Worker Production Function

A mathematical function that represents output per worker as a function of capital per worker or other inputs.