The National Labor Relations Board Is Composed of Members Chosen

question 168

Multiple Choice

The National Labor Relations Board is composed of members chosen by:

• A) Congress and is considered to be quite political
• B) the President and it considered to be quite political
• C) unions and management in equal numbers and so tends to have many internal disputes
• D) the Supreme Court and is considered to be independent of politics
• E) the Civil Service Board based on merit and experience with the agency itself

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Definitions:

Perfectly Competitive Industry

An industry structure where many firms produce identical products, entry and exit are easy, and no single firm can influence the market price.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, with a typical downward slope indicating that demand increases as price decreases.

Producer's Surplus

The difference between what producers are willing to accept for a good or service and what they actually receive.

Marginal Cost Curve

A graph showing the change in total production cost that comes from making or producing one additional unit.