Which of the Following Statements Is True Regarding the National

question 48

Multiple Choice

Which of the following statements is true regarding the National Labor Relations Board (NLRB) ?

• A)The board is a seven-member panel.
• B)It was established by the Clayton Act.
• C)It is appointed by the President of the United States.
• D)Each member serves for a three-year term.

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Definitions:

Utility Function

A mathematical representation that describes how the total utility of a consumer depends on the consumption of various goods and services.

Budget Line

A visual depiction of every potential pair of two products a consumer is able to buy based on their earnings and the costs of these items.

Utility Function

A mathematical representation of how different quantities of goods or services translate into levels of happiness or satisfaction for an individual or society.

Utility Function

A mathematical representation that assigns a value to every possible choice to indicate the level of satisfaction or utility that choice provides to a consumer.