Recently, Negotiations Between a Grocery Store Union and Their Employer

question 2

Multiple Choice

Recently, negotiations between a grocery store union and their employer broke down. The employees staged an organized effort to encourage their supporters to shop for groceries elsewhere. The employees organized a ________.

• A)boycott
• B)lockout
• C)strike
• D)picket

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Definitions:

Dollar Appreciated

A situation where the value of the US dollar increases relative to other currencies, making foreign goods and services cheaper for Americans.

Real Exchange Rate

The rate at which two different currencies can be exchanged, taking into account their respective purchasing power.

Nominal Exchange Rate

The rate at which one currency can be exchanged for another currency, without adjustment for inflation.

Purchasing-Power Parity

An economic theory that compares different countries' currencies through a "basket of goods" approach, to assess the relative value of each currency.