In the Case of Schechter Poultry Corporation V

question 70

Multiple Choice

In the case of Schechter Poultry Corporation v. United States, the Supreme Court:

• A) overturned the Farm Credit Act
• B) overturned the National Industrial Recovery Act
• C) decided that Schechter was involved in interstate, not local, trade
• D) upheld the constitutionality of the second Agricultural Adjustment Act
• E) said that the Agricultural Adjustment Act was unconstitutional

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Definitions:

Social Security Tax

A tax collected by the government to fund the Social Security program, typically levied on both employers and employees to provide retirement, disability, and survivorship benefits.

Federal Income Tax

An annual financial burden put on individuals, corporations, trusts, and various legal bodies by the United States federal government.

Labor Taxes

Taxes imposed on the wages and salaries of employees.

Consumer Surplus

The deviation between the overall amount consumers are keen and able to pay for a good or service against the sum actually paid.