The Arbitrators' Decisions Are Based on the _______________________________, Which Are

question 147

Short Answer

The arbitrators' decisions are based on the _______________________________, which are the written rules and unwritten customs developed in each workplace by the union contract, intent of the negotiators, and past practices.

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Definitions:

Saving

The portion of income not spent on current consumption but set aside for future use, often in a deposit account or as an investment.

Disposable Income

The sum of funds a family can use for expenditures and savings once income taxes are deducted.

APC

Average Propensity to Consume (APC) is a measure of the fraction of income spent on consumption rather than saving in an economy.

Disposable Income

Discretionary income for households to utilize in their saving and spending after the enforcement of income taxes.