The Potential Gains to a Union in Terms of Wages

question 18

Multiple Choice

The potential gains to a union in terms of wages and employment will be greatest if the firm's demand for labor is

• A) elastic.
• B) inelastic.
• C) of unit elasticity.
• D) horizontal.

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Definitions:

Oral Will

An Oral Will, also known as a nuncupative will, is a will that has been spoken aloud in front of witnesses, rather than written down, valid only in certain jurisdictions.

Settlor

A person who creates a trust.

Residuary Clause

A provision in a will that assigns the remainder of the deceased's estate after specific gifts have been disbursed.

Uniform Anatomical Gifts Act (UAGA)

Legislation that facilitates the donation of organs and tissues for transplantation purposes.