For Decertification to Occur, One Condition Is That the Union

question 49

True/False

For decertification to occur, one condition is that the union must have served as the official bargaining agent for the employees for at least one year.

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Definitions:

Unobservable Actions

Actions taken by individuals or entities that cannot be seen or monitored by others, often discussed in the context of economics or game theory.

Moral Hazard

A situation where one party is more likely to take risks because the negative consequences of the risk will be borne by another party.

Unobservable Actions

Actions taken by parties in a contract or agreement that cannot be directly observed or monitored by others.

Adverse Selection

A situation in which sellers have information that buyers do not, or vice versa, leading to an inefficient market outcome.