Which Union Recently Agreed to a 3-Year Wage Freeze and the Loss

question 122

Multiple Choice

Which union recently agreed to a 3-year wage freeze and the loss of 3,000 jobs in exchange for plant upgrades and limited imports?

• A)The United Steel Workers
• B)The United Automobile and Aerospace Workers
• C)The International Association of Machinists and Aerospace Workers
• D)The International Brotherhood of Electrical Workers

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Definitions:

NICs

Newly Industrialized Countries, nations that have recently experienced rapid industrial growth and show signs of moving from a mainly agricultural to an industry and manufacturing-based economy.

Net National Savings Rate

A measure of the total savings of an economy after taking into account depreciation, expressed as a percentage of Gross National Product (GNP).

Industrial Nations

Countries that are highly developed and have a major portion of their economy based on manufacturing and industry.

Labor Productivity

A measure of economic performance that compares the amount of goods and services produced (output) with the number of hours worked to produce those goods and services.