The High Point in the Business Cycle Is Referred to as the

question 10

Multiple Choice

The high point in the business cycle is referred to as the

• A)turning point.
• B)peak.
• C)boom.
• D)trough.

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Definitions:

Labour Relations

The study and practice of managing the relationship between employers and employees, particularly around issues such as wages, working conditions, and collective bargaining.

Craft Unions

Unions that represent skilled craft workers

Industrial Unions

Labor unions that organize workers from various trades and sectors within the same industry to negotiate for better wages, working conditions, and other employment issues.

Final Offer Arbitration

Method of resolving collective bargaining deadlocks whereby the arbitrator has no power to compromise but must select one or another of the final offers submitted by the two parties.