The Employment Act of 1946 Reflects Which One of the Following

question 86

Multiple Choice

The Employment Act of 1946 reflects which one of the following functions of government?

• A) providing a legal system
• B) improving economy-wide stabilization
• C) correcting externalities
• D) providing public goods

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Definitions:

Government Spending

Expenditures made by the government sector on goods and services, including salaries of public servants, public investments, and social security benefits.

Aggregate Demand

The collective requirement for goods and services in an economy, determined at a particular price point over a defined period.

Taxes

Compulsory contributions to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions.

Aggregate Demand

The collective call for goods and services in an economy, marked at a certain price level for a given time interval.