_____ Occurs When the Employer, on Behalf of the Union

question 49

Multiple Choice

_____ occurs when the employer, on behalf of the union, automatically deducts dues from union member's paychecks.

• A) Augmentation
• B) Agency fee provision
• C) Capitation
• D) Fair share provision
• E) Checkoff provision

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Definitions:

Consumer Insurance

A financial product that provides coverage for individuals against potential losses related to their personal assets, health, or life.

Marginal Utility

The change in satisfaction or utility received by consuming an additional unit of a good or service.

Total Utility Function

A mathematical representation of the total satisfaction received from consuming a certain amount of goods or services.

Risk-Averse

A characteristic of individuals who prefer to avoid risk and would rather choose an option with a more certain but possibly lower return over an uncertain option with a potentially higher return.