Local Unions Are Governed by a President And

question 52

Multiple Choice

Local unions are governed by a president and:

• A) Union organizers hired by the union president.
• B) Local union stewards elected by the workers.
• C) Worker representatives appointed by the company president.
• D) Executive committee elected by the workers.

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Definitions:

Demand and Supply

Economic model that determines the price of a good in a market, based on the desire and availability of the good.

Law of Demand

The Law of Demand states that, all else being equal, as the price of a good increases, the demand for that good decreases, and conversely, as the price decreases, demand for the good increases.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product, service, or commodity, usually intended to protect consumers from excessive costs.

Economic Effects

The consequences of a particular policy or economic event on the welfare of the economy.