The Obligation of the Union Representative to Take a Contract

question 35

True/False

The obligation of the union representative to take a contract back for a vote of union members before acceptance is not a violation of the duty to bargain in good faith.

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Definitions:

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor of production, such as labor.

Productivity

Productivity measures the efficiency of production in terms of the amount of goods and services produced from a given amount of inputs, such as labor and capital, within a specific period.

Derived Demand

Derived demand refers to the demand for a good or service that originates from the demand for another good or service.

Final Demand

The demand for finished goods and services by consumers, businesses, and government, excluding intermediate goods.