Which of the Following Statements Is True of a Seniority

question 60

Multiple Choice

Which of the following statements is true of a seniority system?

• A) The seniority system is based on the age and the educational qualifications of the employees.
• B) A seniority system is a mandatory subject in the collective bargaining process.
• C) Implementation of seniority systems is required by federal law.
• D) Strict formal seniority systems are common in nonunionized organizations, but rare among union employers.

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Definitions:

Marginal Product

The additional output that is produced by adding one more unit of a factor, such as labor or capital.

Bushels

A measure of volume that is used for quantities of grain, fruit, or other produce.

Variable Input

Variable input refers to a production factor that can be adjusted in the short term to increase or decrease production output.

Short Run

A period during which at least one of a firm's inputs is fixed, limiting its capacity to adjust fully to changes in market demand.