During the Process of Hammering Out a Collective Agreement, Local

question 18

Multiple Choice

During the process of hammering out a collective agreement, Local 969 and the employer come to an impasse. The problem lies in the fact that the employer simply refuses to meet and discuss the issues. In this situation

• A) the employer has committed a criminal act.
• B) it will be necessary to hold another membership drive.
• C) the union will not be able to achieve its goal of signing a collective agreement.
• D) there has been a breach of the duty of good faith.
• E) none of the above.

Recognize external factors influencing demand elasticity, including taxes and substitutes

Understand the concept of elasticity in economics, including its mathematical representation and factors affecting it.

Identify and differentiate between perfectly elastic and perfectly inelastic demand and supply.

Analyze the effects of price changes on demand and supply elasticity, including the impact of taxes.

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Definitions:

Test Statistic

A calculated value that is used in statistical testing to decide whether to reject the null hypothesis, based on the possible values it can take in relation to a theoretical distribution.

Rank Sums

A statistic used in non-parametric tests that involves summing the ranks of observations in samples.

Standardized Test Statistic

A calculated value from sample data that has been transformed to conform to a standard scale, used in hypothesis testing to determine how far a sample statistic differs from what is expected under the null hypothesis.

Matched Pairs

An experimental design where pairs of subjects are matched based on certain criteria to compare effects of different treatments.