If a Union Is Present in a Firm That Has

question 171

Multiple Choice

If a union is present in a firm that has a(n) ________ shop arrangement, workers may join the union if they wish, but they are not required to join or pay a union fee in order to keep their jobs.

• A) open
• B) unrestricted
• C) freedom of choice
• D) agency

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Definitions:

Face Value

Refers to the nominal or dollar value printed on a financial instrument, such as a bond or stock certificate, representing its legal value.

Bond

An interest-bearing security that obligates the issuer to pay the bondholder a specified sum of money, generally at fixed intervals, and to repay the principal at maturity.

Maturity Date

The due date on which a loan or bond must be completely paid off, including principal and interest.

Interest Earned

The amount of income generated from an investment or the amount of interest accumulated on a financial asset over a period of time.