Which act sought to regulate industry by codes and stabilize prices and wages?

Which act sought to regulate industry by codes and stabilize prices and wages?

• A. National Labor Relations Act.
• B. Social Security Act.
• C. National Industrial Recovery Act.
• D. Lend-Lease Act.

Answer: (C)

This question is about a New Deal move to get industries to operate under shared rules to steady prices and wages. The act created nationwide codes of fair competition for different industries, with the president empowered to draft these codes. Those codes set minimum wages, maximum hours, and rules on production and pricing, aiming to lift economic activity by reducing chaos in markets and helping workers’ purchasing power. In short, it sought to regulate industry through codes to stabilize prices and wages. Other options address different aims: one protects workers' rights to organize and bargain; another provides social insurance, and another helps in wartime lending to allies. The idea of coordinating industry-wide codes and stabilizing prices and wages is unique to this act.

This question is about a New Deal move to get industries to operate under shared rules to steady prices and wages. The act created nationwide codes of fair competition for different industries, with the president empowered to draft these codes. Those codes set minimum wages, maximum hours, and rules on production and pricing, aiming to lift economic activity by reducing chaos in markets and helping workers’ purchasing power. In short, it sought to regulate industry through codes to stabilize prices and wages.

Other options address different aims: one protects workers' rights to organize and bargain; another provides social insurance, and another helps in wartime lending to allies. The idea of coordinating industry-wide codes and stabilizing prices and wages is unique to this act.