If Union Action Leads to a Rise in the Relative

question 61

Multiple Choice

If union action leads to a rise in the relative price of factors that are substitutes for union labor,

• A)the supply of union labor falls.
• B)the quantity demanded of union labor falls.
• C)the demand for union labor rises.
• D)the supply of union labor rises.

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Definitions:

Detective Controls

Internal control mechanisms designed to identify and alert businesses of errors, fraud, or variances that occur in financial transactions.

Fraudulent Activities

Acts that intentionally deceive others for personal or financial gain.

Management

The process of planning, organizing, leading, and controlling resources to achieve organizational goals efficiently and effectively.

Segregation Of Duties

An internal control measure designed to reduce the risk of error or fraud by dividing responsibilities among different people or departments.