Someone Who Has to Make a Choice Involving Whether to Receive

question 64

Multiple Choice

Someone who has to make a choice involving whether to receive a certain amount of money now or in the future, will probably choose _______ , since there is a(n) ________ in waiting to use money.

• A) the future; benefit
• B) now; opportunity cost
• C) the future; opportunity cost
• D) now; benefit

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Definitions:

Industrial Unions

Labor unions that represent all workers, skilled and unskilled, within a particular industry, advocating for their rights, wages, and working conditions.

Negotiating

The process of discussing something with another party in order to reach a mutually acceptable agreement or compromise.

Labor Contract

A formal agreement between employees and their employer detailing the terms and conditions of employment.

Contract Provisions

Specific clauses or terms included within a contract that outline the rights, duties, and conditions for the parties involved.