An "Open Shop" Meant That

question 24

Multiple Choice

An "open shop" meant that

• A) owners could not discriminate in any way in their hiring practices.
• B) owners were legally bound to keep all escape routes open, and they were fined frequently when they did not.
• C) no one could be forced to join a union as a condition for working at a given company.
• D) no unions were allowed on the premises.
• E) workers had voted to ban all union activity from their particular workplace.

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Definitions:

Share Repurchase Program

A plan initiated by a company to buy back its own shares from the marketplace, often to reduce the supply of shares available and thus increase the value of remaining shares.

Open Market

An economic system in which prices for goods and services are determined by unrestricted competition between privately owned businesses.

Stockholders

Individuals or entities that own shares in a corporation, thereby having an ownership interest in the company.

Stock Repurchase

When a company buys back its own shares from the marketplace, reducing the amount of outstanding stock on the open market.