Which of the following was not a component of the National Recovery Act (NIRA)?
a. Set minimum prices for goods.
b. Set minimum wages.
c. Set a minimum number of hours of work.
d. Institute codes of fair practice for various industries.
c. Set a minimum number of hours of work.
Economics
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For a natural monopoly to cover its total cost, its price must equal its
A) average total cost. B) marginal cost. C) demand. D) total fixed cost. E) marginal revenue.
Economics
Laissez-faire refers to a situation in which there is ____ with the workings of the market system
a. zero consumer involvement b. zero government interference c. minimal government interference d. complete government interference
Economics