In Order to Reduce Labor Supply, a Union Must Be

question 217

Multiple Choice

In order to reduce labor supply, a union must be able to

• A)do all of the following
• B)force all employers in the industry to hire only union members
• C)set wages
• D)agree to wage concessions
• E)increase union membership

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Definitions:

Conforming Goods

Products or materials that meet the specifications and standards outlined in a contract or agreement between buyer and seller.

Course of Performance

A term referring to the conduct between parties that is used to interpret their agreement within their ongoing business relationship.

Usage of Trade

Established practices or methods of dealing regularly observed in a particular industry or trade.

Commercially Impracticable

A condition in contractual agreements indicating that fulfilling the contract has become excessively burdensome or impossible due to unforeseen events.