The passage of the Employment Act of 1946 assigned:
A)the federal government the responsibility for promoting full employment and price stability.
B)the federal government the responsibility for promoting free markets to achieve economic prosperity.
C)the federal government the responsibility to set a minimum wage for all agricultural workers.
D)state governments the responsibility to set a minimum wage for all industrial workers.
E)state governments the responsibility for promoting full employment and price stability.

Question

Quizplus · Accepted Answer

The Employment Act of 1946 assigned the federal government the responsibility for promoting full employment and price stability. This was a significant shift in economic policy, as prior to the act, the government had largely relied on laissez-faire policies and had not taken an active role in managing the economy. The act created the Council of Economic Advisors to help advise the president on economic policy and set the stage for the federal government to play a larger role in managing the economy in the post-war era.

The Passage of the Employment Act of 1946 Assigned