All but Which One of the Following Statements Helps Explain

question 42

Multiple Choice

All but which one of the following statements helps explain why 19th century unions often represented themselves as mutual insurance societies?

• A)Union officials sold life insurance policies to their members.
• B)Union benefit funds helped tide unemployed members over during periods of cyclical depression.
• C)This was a way around criminal conspiracy laws against unions.
• D)Union benefit funds helped provide for the families of workers killed on the job.
• E)There was no publicly- funded health insurance or unemployment insurance at this time.

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Definitions:

Without Collusion

Refers to actions or decisions made independently among competitors in a market, without secret cooperation or agreement to manipulate market conditions.

Collusion

An agreement among firms to coordinate actions like setting prices, with the aim of increasing profits by reducing competition.

High-Price Policy

A business strategy where goods or services are sold at higher prices to increase profit margins or reflect higher quality.

Temptation to Cheat

The inclination or urge to break rules or agreements in order to gain an advantage, often seen in business or personal relationships.