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Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559 Exercise 1
Circle the letter that corresponds to the best answer. Each of the following were elements of the New Deal except _____.
A) relief, recovery, reform
B) a massive employment program
C) unemployment insurance and bank deposit insurance
D) a balanced budget
A) relief, recovery, reform
B) a massive employment program
C) unemployment insurance and bank deposit insurance
D) a balanced budget
Explanation
Verified
Verified
The new deal is presented by president- R in 1932. It has 3-R's; relief, recovery, and reform.
Relief aimed at alleviating unemployment. It means people are given jobs on a large scale. Once they are employed, they all have some money in their hand with which they can demand the necessities and starts spending the money.
Recovery begins when they start spending the money. Either on good and services or for paying the debts.
The last effect of the New deal was Reform. By learning from the mistake done in the late 1920s, the bank's deposits are now insured by the Federal Deposit Insurance Corporation (FDIC) to prevent bank runs.
Another reform takes place in the form of unemployment insurance benefits program. It provides money (temporarily) to the unemployed people.
Conclusion
It is clear from the above explanation that relief, recovery, reform, a massive employment program, unemployment insurance, and bank deposit insurance were the elements of the New Deal.
Thus, the balanced budget was NOT the element of the New deal.
The correct option is (D)
Relief aimed at alleviating unemployment. It means people are given jobs on a large scale. Once they are employed, they all have some money in their hand with which they can demand the necessities and starts spending the money.
Recovery begins when they start spending the money. Either on good and services or for paying the debts.
The last effect of the New deal was Reform. By learning from the mistake done in the late 1920s, the bank's deposits are now insured by the Federal Deposit Insurance Corporation (FDIC) to prevent bank runs.
Another reform takes place in the form of unemployment insurance benefits program. It provides money (temporarily) to the unemployed people.
Conclusion
It is clear from the above explanation that relief, recovery, reform, a massive employment program, unemployment insurance, and bank deposit insurance were the elements of the New Deal.
Thus, the balanced budget was NOT the element of the New deal.
The correct option is (D)
Macroeconomics 11th Edition by Stephen Slavin
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