Collective Bargaining __________

question 28

Multiple Choice

Collective bargaining __________.

• A) deals only with wages and benefits
• B) permits management and union to agree on a contract
• C) permits unions to meet collectively for greater strength
• D) is a bargaining process involving agreement among the union members

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Definitions:

Payroll Tax

Taxes imposed on employers or employees, usually calculated as a percentage of the salaries that employers pay their staff.

Labor Market

The supply and demand for labor, where workers find employment and employers find workers.

Equilibrium

A state in economics where demand equals supply, resulting in a stable market price and quantity.

Take Home Pay

The amount of income left after deductions such as taxes and retirement contributions are taken out of an individual's gross salary.