Unions and Employers Who Negotiate Contracts Have a Duty to Bargain

question 241

Multiple Choice

Unions and employers who negotiate contracts have a duty to bargain in good faith. This means both sides must do all of the following except:

• A) agree to meet at reasonable times
• B) must be willing to make proposals
• C) must explain reasons behind certain proposals
• D) must consider proposals of the other party
• E) all of the other choices are elements of good faith bargaining

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Definitions:

Real Wealth

The value of an individual's or entity's assets and resources, adjusted for inflation, reflecting the actual purchasing power over goods and services.

Aggregate Demand

The total demand for all goods and services within an economy at given price levels and in a given time period.

Short Run

A period during which at least one of a firm's inputs is fixed, only allowing the firm to vary some inputs while others remain unchanged.

Long Run

In economics, a period of time during which all factors of production and costs are variable, allowing full adjustment to any change in the market.