A Trough Is the

question 368

Multiple Choice

A trough is the

• A) lower turning point of a business cycle when an expansion begins.
• B) lower turning point of a business cycle when a recession begins.
• C) upper turning point of a business cycle when an expansion begins.
• D) upper turning point of a business cycle when a recession begins.

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Definitions:

Wagner Act

A foundational statute in United States labor law that protects the rights of workers to form unions and engage in collective bargaining.

Wagner Act

Also known as the National Labor Relations Act of 1935; a foundational statute of United States labor law which guarantees basic rights of private sector employees to organize into trade unions, engage in collective bargaining, and take collective action such as strikes.

Collective Bargaining

The process by which employers and unions negotiate the terms of employment, including wages, hours, and working conditions.

State Governments

The governing bodies of each of the 50 states in the United States, which have the power to create and enforce laws within their respective territories under the U.S. Constitution.