If a Union Is Able to Increase the Demand for Union-Made

question 189

Multiple Choice

If a union is able to increase the demand for union-made goods,

• A)wages will increase but employment will decrease
• B)wages will increase and employment will increase
• C)wages will decrease but employment will increase
• D)wages will decrease and employment will decrease
• E)the demand for non-union labor will increase

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Definitions:

Implied-in-fact Contract

is an agreement derived from the actions, conduct, or circumstances of the parties involved, rather than from explicit written or spoken terms.

Negotiable Instrument

An official document that assures the payment of a fixed sum of money, payable either on demand or at a designated time, with the document bearing the name of the person obligated to pay.

Letter of Credit

A financial document issued by a bank that guarantees a buyer's payment to a seller within a specified timeframe.

Certificate of Deposit

A time-bound deposit held at a bank or financial institution that offers a fixed rate of interest.