The National Industrial Recovery Act (1933)
(a) did not permit businesses to set prices and production quotas.
(b) established three advisory boards composed of government, Webb-Pomerene firms
and members of the Federal Reserve System.
(c) was thrown out by the Supreme Court in May 1935.
(d) prohibited collective bargaining.
(c)
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In the short run, marginal product of labor increases at first and then falls because
A) managerial inefficiency sets in when a firm gets too large. B) the new workers do not have as much experience as those who have been with the firm for a long time and therefore are not as productive. C) there are fewer opportunities for division of labor and specialization when fewer workers are hired. D) as more labor is hired, they are not as skilled as the first ones hired.
Which of the following shifts aggregate demand to the right?
a. the Federal Reserve buys bonds. b. a decrease in net exports due to something other than a change in domestic prices. c. an increase in household saving. d. All of the above are correct.