During Collective Bargaining, the Employer and the Union Are Obligated

question 2

True/False

During collective bargaining, the employer and the union are obligated to reach an agreement.

Distinguish between different types of taxes (e.g., excise, payroll, income, and corporate taxes).

Analyze the efficiency and equity of tax systems including their implications for different socioeconomic groups.

Compute tax liabilities and tax rates given specific scenarios and understand progressivity of tax systems.

Understand the principles of tax design, including the trade-offs between efficiency and equity.

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Definitions:

UCC Section 2-301

A provision of the Uniform Commercial Code dealing with the obligation of the seller to transfer and deliver goods, and the buyer’s obligation to accept and pay for them.

Conforming Goods

Products that meet the specifications and requirements stipulated in a sales or supply contract.

Basic Duty

An essential or fundamental obligation required by law, contract, or ethical considerations.

Usage of Trade

Established customs and practices in a particular industry or market that are widely accepted and that parties to a contract are presumed to follow.