With Reference to the Principles Used for Combining Seniority Lists

question 55

Multiple Choice

With reference to the principles used for combining seniority lists in the event of a merger, the ________ principle gives employees rank positions on the merging seniority lists equal to their rank position on the prior seniority lists.

• A) associative rank
• B) ratio-rank
• C) rank maintenance
• D) absolute rank

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Definitions:

Tax Burden

The total amount of taxes paid by individuals or businesses, often expressed as a percentage of income or GDP.

Elasticity

The indicator of the responsiveness of the demand or supply of a product to shifts in key factors like price or income.

Perfectly Elastic

A perfectly elastic demand or supply refers to a situation where the quantity demanded or supplied changes infinitely in response to any change in price, represented by a horizontal line on a graph.

Tax Burden

The measure of taxes that an individual or business is required to pay, expressed as a percentage of income or profit.