Which of the Following Factors Will Reduce Considerably the Ability

question 530

Multiple Choice

Which of the following factors will reduce considerably the ability of a union to raise the wages of its workers?

• A) an elastic demand for the goods produced by union labor
• B) a five-year apprenticeship before one can qualify for jobs held by union members
• C) high tariffs on goods produced by the union labor
• D) favoritism in the allocation of government contracts to firms that employ union labor

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Definitions:

Socially Responsible

A principle or practice whereby individuals or businesses make decisions and take actions that positively impact society, the environment, and the economy.

Ethical Standpoint

A perspective or approach to decision-making that considers moral principles and values.

Quarterly Profit Statement

A financial report issued by a company every three months that provides information about its revenue, expenses, and net profit during the quarter.

Long-Term Needs

Describes requirements or desires that are projected over an extended period, often associated with strategic planning and goals.