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A union filed a grievance on behalf of an employee who was terminated for alleged misconduct. The employer subsequently sent a letter headed "without prejudice" to the union offering to settle the grievance by reinstating the employee with a 10 day suspension. The union declined the employer's offer and the matter is proceeding to an arbitration hearing. In this situation, which of the following is correct:
Class
In Marx’s sense of the term is determined by one’s relationship to the means of production. In Weber’s usage, class is determined by one’s “market situation.” Wright distinguishes classes on the basis of relationship to the means of production, amount of property owned, organizational assets, and skill. For Goldthorpe, classes are determined mainly by one’s “employment relations.”
Socioeconomic Index
A composite measure that typically combines data on income, education, and occupation to characterize or rank individuals or groups' economic and social position.
Occupational Prestige
The perceived status or respect associated with various professions by society, often influenced by factors like education, income, and perceived impact.
Income
The financial gain obtained from work, investments, business, or other sources, typically measured over a certain period.
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