The National Industrial Recovery Act, passed in 1933, was an attempt to
A) break monopolies and cartels, and introduce competition into several different industries.
B) fix prices, wages, and quotas for several industries in an effort to keep prices high.
C) lower corporate taxes and remove collusive behavior in an effort to keep U.S. firms competitive with foreign manufacturers.
D) create a stable economic environment that would encourage investment and expansion in the industrial sector of the economy.

Question

Quizplus · Accepted Answer

The National Industrial Recovery Act (NIRA) aimed to stimulate economic recovery by instituting price controls, quotas, and minimum wages across a range of industries. The goal was to protect workers and businesses from the effects of the Great Depression by ensuring that prices for goods remained high, while wages remained stable. The act also established the National Recovery Administration (NRA) to oversee implementation of these policies. While the NIRA was ultimately struck down by the Supreme Court, it was an important early attempt at using government intervention to address economic crisis.

The National Industrial Recovery Act, Passed in 1933, Was an Attempt