Which Statement Would Be Consistent with the Effect of Oil

question 180

Multiple Choice

Which statement would be consistent with the effect of oil speculation?

• A) Society becomes worse off from speculation because speculators intend to drive up the price of oil.
• B) Society becomes worse off as speculators decrease the value of oil by moving it to a time when its value is lower.
• C) Society becomes better off as speculators increase the value of oil by moving it to a time when its value is higher.
• D) Society is indifferent about the activities of speculators.

---

Definitions:

Wildcat Strike

A wildcat strike occurs when workers suddenly go on strike, without the authorization (presumably) of the striker’s union and while a binding labor agreement is still in effect.

Binding Labor Agreement

A legally enforceable contract between a labor union and an employer that specifies the terms of employment and worker rights.

Formal Grievance Systems

Institutionalized processes allowing employees to file complaints or disputes for formal review and resolution.

National Labor Relations Board

An independent U.S. federal agency that enforces labor law in relation to collective bargaining and unfair labor practices.