Examlex
Which of the following statements is true of wages, educational attainment, and gender?
Final Offer Arbitration
A dispute resolution process where each party presents their final offer, and the arbitrator chooses one, without the option for modification.
Conventional Arbitration
A dispute resolution process where a neutral third party makes a binding decision to resolve a conflict between parties, typically used when other forms of negotiation have failed.
Negotiate
The process of discussing terms and conditions between parties with differing interests to reach a mutually acceptable agreement or compromise.
Bargaining Impasse
A situation in labor negotiations where the employer and the union are unable to reach an agreement, often leading to a deadlock.
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