The Federal Government's Current Role in Providing Basic Skills Training

question 14

Multiple Choice

The Federal Government's current role in providing basic skills training is best defined as:

• A)Non-existent - all funding was canceled by Ronald Reagan
• B)Modest - mainly through the Basic Skills Training Act
• C)Huge and growing - mainly through the Department of Education
• D)Substantial - through the Job Training & Partnership Act and Workforce Investment Act

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Definitions:

Economic Efficiency

A situation in which resources are allocated in the most beneficial way from the perspective of society, where no one can be made better off without making someone else worse off.

Benefits

Advantages or financial assistance received from employment, government, or insurance, aimed at improving individuals’ well-being.

Costs

The expenses incurred in the production or acquisition of goods and services, including both direct and indirect expenditures.

Inelastic Demand

A situation in which the percentage change in quantity demanded of a good is less than the percentage change in price, indicating low sensitivity to price changes.