A Key Difference Between a Mediator and an Arbitrator Is

question 127

Multiple Choice

A key difference between a mediator and an arbitrator is that

• A) a mediator is appointed by labor and management, while an arbitrator is appointed by the federal government under terms set forth in the Taft-Hartley Act.
• B) a mediator is an unpaid volunteer, while an arbitrator is a paid professional.
• C) an arbitrator can settle a labor-management dispute by rendering a binding decision, while a mediator can only make suggestions and encourage the two sides in a dispute to continue negotiating.
• D) a mediator is a lawyer who represents either labor or management in a labor dispute, while an arbitrator is an impartial advisor who listens to both sides of the dispute and offers suggestions that help the two parties reach a mutually acceptable agreement.

---

Definitions:

Market Economy

An economic system where supply and demand dictate the production, distribution, and pricing of goods and services, with minimal government intervention.

Bankruptcy

A legal process whereby individuals or entities that cannot repay debts to creditors seek relief from some or all of their debts.

Falsely Claimed

Statements or claims made untruthfully or deceitfully, often in legal or financial contexts to gain an advantage.

Financial Markets

Platforms or systems where financial securities and commodities are traded between buyers and sellers, facilitating the allocation of resources and distribution of risk.