A Firm Has Been Unionized and a First Collective Agreement

question 17

Multiple Choice

A firm has been unionized and a first collective agreement has been negotiated.The agreement provides for a union shop, protects bargaining unit work, and contains an article regarding technological change.Which of the following is the least likely to be affected by the collective agreement:

• A)layoffs
• B)the establishment of workplace rules
• C)the replacement of old equipment
• D)the selection of new employees
• E)the termination of employees

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Definitions:

Factor Endowments

Refers to the quantities of productive resources a country has available, including labor, land, and capital.

Trade Advantage

The benefit or edge a country, region, or business has in producing a specific good or service more efficiently than competitors.

Labor-Abundant

Describes an economy or sector that has a high availability of labor relative to capital.

Land-Abundant

A description of a country or region that has a large amount of land available for agriculture or development relative to other inputs.