Unions

question 40

Multiple Choice

Unions

• A)do not affect the natural rate of unemployment.
• B)lower the wages of unionized workers.
• C)raise the profits of unionized firms.
• D)lower the wages of workers in industries without unions.

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Definitions:

Court Is Estopped

A legal principle preventing a court from taking back a statement or position that led someone to take action in reliance on it.

Dissolve The Partnership

The legal process of terminating a business partnership, involving the liquidation of assets and distribution of the proceeds to the partners.

Dissociate

The act of separating or detaching from involvement or association with something.

Wind Up

The process of closing down a business, including selling assets, paying creditors, and distributing any remaining assets to owners or shareholders.