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What is one of the macroeconomic goals established by the 1946 Employment Act?

Options:
A) Price stability
B) Full employment
C) Economic growth
D) Income equality

Answer :

Final answer:

The 1946 Employment Act established several macroeconomic goals, among which full employment was a primary focus, aiming to create conditions where everyone who wants a job can find one. Thus, the option B) Full employment is the correct answer.

Explanation:

The question concerns one of the macroeconomic goals established by the 1946 Employment Act. According to the act, the federal government should "use all practical means...to promote maximum employment, production and purchasing power." Thus, among the provided options, the correct answer is B) Full employment. The act was a response to the economic challenges of the Great Depression and the desire to promote economic stability and growth post-World War II. Full employment, as a goal, implies creating conditions where everyone who wants a job can find one, with practical full employment considered to be around 3–4 percent unemployment to account for transitional phases in the job market. Thus, the option B) Full employment is the correct answer.

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