Other Things the Same,if Workers and Firms Expected Prices to Rise

question 31

Multiple Choice

Other things the same,if workers and firms expected prices to rise by 2 percent but instead they rise by 3 percent,then

• A)employment and production rise.
• B)employment rises and production falls.
• C)employment falls and production rises.
• D)employment and production fall.

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Definitions:

Mediation

The process by which an outside party attempts to help two other parties settle their differences.

Union Shop

A workplace where all employees must join the union within a certain period after being hired.

Closed Shop

A form of union security agreement where the employer agrees to hire union members only, and employees must remain members of a union at all times.

Agency Shop

A workplace where employees must pay union fees even if they are not union members, as long as a union is the recognized bargaining agent for the workplace.