Which of the Following Statements Is True of Union Management

question 40

Multiple Choice

Which of the following statements is true of union management relations in the United States?

• A) Unions provide training programs that improve worker readiness and allow companies to hire a highly skilled workforce.
• B) Unions typically focus on improving wages, benefits, job security, and working conditions.
• C) Unions focus exclusively on activism and integration with ruling governmental and political powers.
• D) Unions make agreements with the government and argue their cases before arbitration tribunals.

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Definitions:

Oligopoly

A market structure characterized by a small number of firms which dominate the market, leading to limited competition and potentially higher prices for consumers.

Price Leadership

A form of oligopoly in which one dominant firm sets prices and all the smaller firms in the industry follow its pricing policy.

OPEC Cartel

An organization of oil-producing countries that coordinates and unifies petroleum policies to secure fair and stable prices for petroleum producers.

Predatory Pricing

A competitive strategy where a firm sets very low prices with the intention of driving competitors out of the market, or to prevent new entries.