[ 469 ] Economics GED ® TEST SOCIAL STUDIES FLASH REVIEW • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • John Maynard Keynes was an economist whose prescriptions for managing a national economy included increasing public spending and public employment during economic downturns when the private sector has cut back on its spending. President Franklin Roosevelt’s New Deal included many programs that followed the advice of Keynes. One part of the New Deal that would not fall under the above Keynesian recommendation was a. the Tennessee Valley Authority, which built hydroelectric dams along the Tennessee River. b. the Works Progress Administration, which provided jobs to the unemployed. c. the Social Security System, which provided pensions to millions of the elderly and the disabled. d. the Glass-Steagall Banking Act, which separated commercial banking from investment banking. Monetary policy is the control of the supply of money and interest rates by the monetary authority of a country. Which of the following controls monetary policy in the United States? a. the president b. the Congress c. the Supreme Court d. the Federal Reserve