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National Industrial Recovery Act of 1933: 1Established the National Recovery Administration to oversee the regulation of the economy. The act was designed to allow buisnesses to set their own standards of production, prices, and wages. However in return businesses had to agree to sanction Labor Unions. It also guaranteed collective bargaining rights to the workers. 1 Created Equal, A History of the United States Volume II, 3rd ed., pp 697,698. Jones, Wood, Borstelmann, May and Ruiz. Pearson Longman publishers.

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