Stabilization Policy Refers to Using Government Policy

question 53

Multiple Choice

Stabilization policy refers to using government policy

• A) to promote technology development.
• B) to alter commodity prices.
• C) to promote competition among firms and industries.
• D) to set up a legal system.
• E) to smooth out business cycles.

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Definitions:

Collective Bargaining

The process in which workers, through their unions, negotiate contracts with their employers to determine their terms of employment, including wages, benefits, and working conditions.

NLRB

The National Labor Relations Board, a government agency in the United States that oversees labor practices and enforces labor laws.

Employee Free Choice Act

Proposed U.S. legislation intended to ease the process for workers to form unions by allowing card check certification among other reforms.

First Contracts

The initial collective bargaining agreement reached between a newly formed or recognized labor union and the employer.