The first formal acknowledgement of the primary macroeconomic goals of price stability, high employment, and promoting economic growth in the United States came with passage of the:
A)Federal Reserve Act of 1913.
B)the Sherman Antitrust Act of 1890.
C)the Social Security Act of 1935.
D)the Employment Act of 1946.

Question

The first formal acknowledgement of the primary macroeconomic goals of price stability, high employment, and promoting economic growth in the United States came with passage of the:
A)​Federal Reserve Act of 1913.
B)​the Sherman Antitrust Act of 1890.
C)​the Social Security Act of 1935.
D)​the Employment Act of 1946.

Quizplus · Accepted Answer

The Employment Act of 1946 is the correct choice as it was the first formal acknowledgement of the primary macroeconomic goals of price stability, high employment, and promoting economic growth in the United States. The Act created the Council of Economic Advisers and mandated that the federal government develop policies to promote maximum employment, production, and purchasing power.

The First Formal Acknowledgement of the Primary Macroeconomic Goals of Price