The Classical Economists Believed There Was No Role for Government

question 9

True/False

The classical economists believed there was no role for government to play in restoring full employment.

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Definitions:

Closed Shop Agreements

Labor agreements requiring an employer to hire only workers who are already union members, effectively ensuring a unionized workforce.

Taft-Hartley Act

A 1947 federal law in the United States that restricted the activities and power of labor unions, formally known as the Labor Management Relations Act.

Agency Shop Agreements

Labor agreements that require non-union workers to pay union dues on the premise that union activities benefit all workers.

Wagner Act

The National Labor Relations Act of 1935, known as the Wagner Act, established the legal right for workers to join unions and engage in collective bargaining in the United States.