The Adamson Act of 1916

question 30

Multiple Choice

The Adamson Act of 1916:

• A) restricted child labor
• B) provided low-interest loans to farmers
• C) provided federal funds to build highways
• D) established the eight-hour day for railroad workers
• E) made the consumption of alcohol legal for soldiers

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Definitions:

Productivity

Productivity measures the efficiency of production in terms of the amount of output produced per unit of input used.

Derived Demand

The demand for a good or service that arises from the demand for another good or service. For example, demand for steel is derived from the demand for cars.

MPP

"MPP" is typically understood as "Marginal Physical Product," which refers to the additional output resulting from the use of one more unit of a variable input, holding all other inputs constant.

MRP

Material Requirements Planning (MRP) is a system for planning production, scheduling activities, and controlling inventory used in overseeing manufacturing operations.