Which of the Following Statements Is True About Union and Nonunion

question 35

Multiple Choice

Which of the following statements is true about union and nonunion members?

• A) Nonunion members receive more in nonstatutory benefits.
• B) Union members are more likely to have benefits such as vacations.
• C) Unions have the greatest impact on high-wage employers.
• D) Nonunion members prefer a larger portion of their pay as benefits.

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Definitions:

Prices

The amount of money required to purchase a good or service, often determined by supply and demand dynamics.

Consumer Sovereignty

The determination by consumers of the types and quantities of goods and services that will be produced with the scarce resources of the economy; consumers’ direction of production through their dollar votes.

Legislation

Laws or legal statutes passed by a legislative body, governing body, or the process of enacting laws.

Market System

An economic system in which decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand.