The Imposition of the Final Terms of a Collective Agreement

question 31

Multiple Choice

The imposition of the final terms of a collective agreement occurs through the process known as

• A)mediation-arbitration.
• B)rights arbitration.
• C)arbitration.
• D)final offer selection.
• E)interest arbitration.

---

Definitions:

Good Substitutes

Products or services that can be used in place of one another, where the increase in price of one leads to an increase in demand for the other.

Price Elasticity of Demand

A measure of how much the quantity demanded of a good changes in response to a change in its price.

Total Expenditures

The sum of all spending or costs incurred by an individual, firm, or government.

Price Elasticity of Demand

An indicator of the responsiveness of the quantity demanded of a product to changes in its price.