A primary objective of labor unions is to
A) secure equal pay for its members.
B) have equal power with their employer.
C) seek better pay and improved work conditions.
D) all of the above.
E) none of the above.
C
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Which of the following assumptions best characterized the assumption about how individuals formed expectations of inflation by the early 1970s?
A) Expected inflation for the current year was smaller than the previous year's inflation rate. B) Expected inflation for the current year was approximately equal to the previous year's inflation rate. C) Expected inflation for the current year was less than the previous year's inflation rate. D) Expected inflation for the current year equal to the average inflation rate over the past five years. E) Expected inflation for the current year equal to the average inflation rate over the past ten years.
Price stability
A. Has been officially set by Congress at 3 percent or less. B. Is targeted at a 3 percent rate of inflation by Alan Greenspan, the head of the Federal Reserve. C. Has been achieved consistently in the 20th century in the United States. D. Is defined as a 0 percent rate of inflation in the Full Employment and Balanced Growth Act of 1978.