The Act Which Sets the Ground Rules for the Give

question 27

Multiple Choice

The act which sets the ground rules for the give and take between labor unions and corporate managers is the:

• A)Social Security Act (1935).
• B)Walsh-Healy Act (1936).
• C)Fair Labor Standards Act (1938).
• D)National Labor Relations Act (1935).

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Definitions:

Open Market Operations

Activities conducted by central banks to buy or sell government securities in the open market to control the money supply and interest rates.

Money Supply Control

The regulation of the amount of money in circulation by a central authority, typically a country’s central bank, to achieve economic objectives.

Open Market Operations

The buying and selling of government securities by a central bank in order to control the money supply and interest rates in the economy.

Discount Rate

The interest rate charged to commercial banks and other financial institutions for loans received from the Federal Reserve's discount window.