Which of the Following Is a Term the Parties Are

question 95

Multiple Choice

Which of the following is a term the parties are required by law to include in a collective agreement:

• A) a minimum term of one year
• B) management rights
• C) a provision dealing with contracting out
• D) a provision dealing with seniority
• E) a provision dealing with discrimination

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Definitions:

Supply Price

The lowest price at which a seller is willing to sell a good or service, influenced by costs of production and market demand.

Quota Rent

The earnings exceeding normal profits received by license holders when import quotas are in place.

Demand Price

The price of a good or service dictated by the desire and ability of consumers to purchase it at certain price levels.

Import Quota

A government-imposed limit on the quantity or monetary value of certain goods that can be imported into the country over a specified period of time.