Economists Develop Models to

question 35

Multiple Choice

Economists develop models to

• A) capture every detail of the real world.
• B) make their arguments more realistic.
• C) justify the assumptions they make about people's behavior.
• D) help us understand economic phenomena in the real world.

Understand the role and functions of mediation and arbitration services in labor relations.

Recognize the typical frequency and triggers for bargaining over new union contracts.

Identify and explain the grievance procedure in labor-management relations.

Understand the implications of right-to-work laws on union representation and employee rights.