The Existence of a Union

question 70

Multiple Choice

The existence of a union

• A) affects labour demand only.
• B) affects labour supply only.
• C) has no effect on labour supply and demand.
• D) can affect both labour supply and labour demand.

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Definitions:

Notes Payable

Financial obligations represented by written promises to pay specified amounts of money at future dates.

Accounts Payable

Liabilities representing amounts owed by a company to suppliers for goods and services purchased on credit.

Journal Entry

A record in the accounting journals that documents a financial transaction.

FICA Taxes

Taxes imposed by the Federal Insurance Contributions Act, funding Social Security and Medicare programs, withheld from employees’ pay and matched by employers.