Specifically, the NIRA, the cornerstone of FDR's administration, proved to be ineffective because it was deemed unconstitutional. The NIRA tried to stabilize the economy by attempting to prevent extreme competition, labor management problems, and overproduction. A board composed of industrial and labor leaders set minimum prices, minimum wages, maximum work hours, and production limits and quotas...
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A board composed of industrial and labor leaders set minimum prices, minimum wages, maximum work hours, and production limits and quotas. This law had many issues because it seemed to go against American capitalist society. It was deemed unconstitutional in the court case Shechter v US. [Document A] Although there was a lot of opposition to FDR's new legislation, it was also given a lot of support by others...
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a) Outline how and why the sectoral balance of an economy might change as it develops Urbanisation occurs with the growth of towns and cities to house the workers in the factories and others moving there. The profits earned add to the amount of trade and so the rise in demand for services such as retail; as people wanted to spend the profits, banking to cater for people wanting to save or borrow money as well as many other services...	3 / 751
THE DEFINITION OF ECONOMY IN DIFFERENT DECADES STARTING FROM 1970’S Most products from this sector are considered raw materials for other industries. Major businesses in this sector include agriculture, agribusiness, fishing, forestry and all mining and quarrying industries...	4 / 963
Economic Fundamentals Structural unemployment can also be referred to a situation were jobs change or no longer exist due to structure or composition of the economy. Structural unemployment is a major cause of unemployment in South Africa, in the 1960’s 25% South Africa’s GDP was made up of the primary sector, where as the secondary sector made up 21% and the tertiary sector contributed to the remaining 54%...	3 / 647
Unemployment Firms will not invest and so the level of output and employment falls. This is called demand-deficient unemployment. The recession will force firms either to decrease the goods? prices or to make workers jobless...	3 / 751