Which of the Following Statements Is True Regarding the Railway

question 21

Multiple Choice

Which of the following statements is true regarding the Railway Labor Act?

• A)It set up the administrative machinery for handling labor relations within the railroad industry.
• B)It upheld the legality of yellow-dog contracts for railroad employees.
• C)It established the Office of the General Counsel to administer the act.
• D)The act was extended to the manufacturing industry in 1936.

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Definitions:

Better Technology

Improvements or advancements in technology that increase efficiency or productivity.

Concave Production Possibilities Curve

A graphical representation indicating increasing opportunity costs as more of one good is produced, resulting in a bowed-out shape.

Economic Resources

These are the assets, materials, and inputs used to produce goods and services, including labor, capital, and natural resources.

Opportunity Costs

The value of the foregone alternative when a decision is made; essentially, the cost of choosing one option over another.