A Collective Bargaining Agreement Ends and the Union and Management

question 378

Multiple Choice

A collective bargaining agreement ends and the union and management continue to bargain for a new contract while the workers go on strike. Management hires new workers to replace the union workers on strike. By law, when the strike ends:

• A) all union workers must be returned to their previous positions
• B) all replacement workers must be dismissed unless the union agrees to accept them
• C) the replacement workers must become union members and be paid union wages
• D) the new collective bargaining agreement must provide higher wages than the previous contract and the new wage level will apply to all workers
• E) none of the other choices are true

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Definitions:

Comparative Advantage

An economic theory that refers to the ability of any given economic actor to produce goods and services at a lower opportunity cost than other economic actors.

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors, using fewer resources.

Global Trade

The exchange of goods, services, and finances between countries and territories, overcoming geographical limitations.

Megacities

Urban areas with a population of over 10 million people, often characterized by significant economic, political, and cultural influence.