The National Recovery Administration of 1933 Did All of the Following

question 44

Multiple Choice

The National Recovery Administration of 1933 did all of the following EXCEPT

• A)establish a minimum wage for labor.
• B)make child industrial labor illegal.
• C)set a standard for the maximum hours one could work in a week.
• D)increase competition between companies.
• E)set floors under prices.

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Definitions:

Bargaining Position

The relative power of a party in negotiations, determined by their ability to influence the terms and outcome.

Customer

The recipient of a good, service, product, or idea, obtained from a seller, vendor, or supplier for a monetary or other valuable consideration.

Sale Price

The final amount at which a product or service is sold to consumers, often after discounts or adjustments.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefits to society from the production and consumption of goods or services.