The Form of Interest Arbitration That Restricts an Arbitrator's Authority

question 30

Multiple Choice

The form of interest arbitration that restricts an arbitrator's authority to settle an interest dispute by requiring the selection of either the employer's or union's final proposal on all issues in dispute.

• A) Grievance arbitration
• B) Fact-finding arbitration
• C) Final-offer total package (FOTP).
• D) Med-Arb arbitration.
• E) Final-offer total package arbitration

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Definitions:

Public Good

A product or service that is non-excludable and non-rivalrous, meaning it can be used by many people without depleting the resource or preventing others from using it.

Demand-Side Market Failure

A situation where the demand curve does not reflect consumers' full willingness to pay for a good or service, often due to externalities or public goods.

Paradox Of Voting

A situation where the rational choice for an individual is not to vote because their single vote rarely affects the outcome, yet if everyone follows this logic, it undermines the democratic process.

Marginal Benefits

The additional satisfaction or utility gained from consuming or producing one more unit of a good or service.