An Example of Featherbedding Is

question 207

Multiple Choice

An example of featherbedding is

• A) the union practice that requires younger workers to be laid off first in a recession.
• B) a requirement that all construction workers working on government-funded construction projects must be paid union wages.
• C) employer-paid dental insurance negotiated by the union.
• D) a requirement on railroads to keep a fireman on board after the introduction of diesel engines.

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Definitions:

Price Level

The economy’s general price level across its full range of goods and services.

Short-run Equilibrium

A state in which market supply and demand balance each other, and, as a result, prices become stable temporarily.

Global Pollution

Environmental damage that crosses international borders, affecting air, water, and land on a worldwide scale.

Aggregate Supply

The total supply of goods and services that firms in an economy are willing to sell at a given overall price level and in a given time period.