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Questions
Q:
The ________ is required to supervise all contested union elections.
A) Congress of Industrial Organizations (CIO)
B) American Federation of Labor (AFL)
C) National Labor Relations Board (NLRB)
D) Election Assistance Commission (EAC)
Q:
Which of the following gives employees the right to join together to form a union?
A) The Wagner Act
B) Section 3 of the Landrum-Griffin Act
C) Section 7 of the NLRA
D) Section 1 of the Taft-Hartley Act
Q:
A group of employees that a union is seeking to represent is known as a(n) ________ unit.
A) combined conciliation
B) appropriate mediation
C) collective negotiation
D) appropriate bargaining
Q:
The ________ oversees union elections, prevents employers and unions from engaging in illegal and unfair labor practices, and enforces and interprets certain federal labor laws.
A) USCIS
B) NLRB
C) AFL
D) CIO
Q:
A jurisdictional dispute means that
A) members of a union disagree on the outcome of union elections.
B) a higher court reversed the decision of a lower court in a case brought by a union.
C) a union leadership and membership cannot agree on an issue.
D) two unions disagree on which should represent workers in a particular industry.
Q:
Which of the following federal statutes that regulate labor-management relationships covers airline carriers?
A) Norris-LaGuardia Act
B) National Labor Relations Act
C) Railway Labor Act
D) Landrum-Griffin Act
Q:
Which of the following acts regulates internal union affairs and establishes the rights of union members?
A) Landrum-Griffin Act
B) Gompers-Lewis Act
C) Taft-Hartley Act
D) Wagner Act
Q:
Which of the following is true of the Taft-Hartley Act?
A) It establishes the right of employees to bargain collectively with employers.
B) It gives employers the right to engage in free speech efforts against unions prior to a union election.
C) It provides for the equal representation of skilled and unskilled workers.
D) It gives the president of the United States the right to seek an injunction against a strike.
Q:
The Labor Management Relations Act of 1947 is also known as the ________ Act.
A) Landrum-Griffin
B) Gompers-Lewis
C) Taft-Hartley
D) Wagner
Q:
When there is an increase in the wages the banking industry offers accountants, what happens to the supply of accountants available to other industries?A) The supply to other industries increases. B) The supply to other industries falls.C) The supply curve for other industries shifts to the right.D) no change
Q:
Which of the following is provided by the National Labor Relations Act of 1935?
A) regulation of the internal affairs of each union
B) employee representation according to their sectors of employment
C) collective bargaining with employers
D) equal representation for every union member
Q:
In 1935, John L. Lewis formed the ________, which permitted semiskilled and unskilled workers to be its members.
A) International Labor Organization (ILO)
B) Congress of Industrial Organizations (CIO)
C) National Labor Relations Board (NLRB)
D) American Federation of Labor (AFL)
Q:
Only ________ workers were allowed to belong to the American Federation of Labor.
A) skilled craft
B) unskilled
C) literate
D) illiterate
Q:
The ________ was a labor union formed in 1886 that only allowed craft workers such as silversmiths and artisans to be its members.
A) Congress of Industrial Organizations (CIO)
B) American Federation of Labor (AFL)
C) National Labor Relations Board (NLRB)
D) International Labor Organization (ILO)
Q:
Which of the following is illegal according to the antitrust laws?
A) the use of coupons
B) price discrimination based on cost differences
C) vertical mergers
D) price fixing
Q:
What is an EB-1 visa? Who qualifies for it?
Q:
The ________ Act of 1986, which is administered by the USCIS, requires employers to verify whether prospective employees are either U.S. citizens or otherwise authorized to work in the country.
Q:
The EB-1 visa allows U.S. employers to employ in the United States foreign nationals who possess exceptional qualifications for certain types of employment.
Q:
The Federal Trade Commission (FTC) is a regulatory agency that is responsible for preventing firms from engaging in misleading advertising. This type of regulation is known asA) the Federal Register. B) social regulation.C) the market share test. D) economic regulation.
Q:
An H4 visa holder is eligible to work in the United States for minimum wage or higher.
Q:
H-1B visa holders are allowed to bring their immediate family members to the United States under the H4 visa category.
Q:
The immigration laws of the United States are administered by the U.S. Citizenship and Immigration Services (USCIS).
Q:
Which of the following is true of U.S. immigration law?
A) An H1-B visa is granted only to foreign nationals skilled in specialty occupations.
B) Individual applicants, and not employers, apply for H1-B visas.
C) H1-B visa holders cannot bring their dependent family members to the United States.
D) H4 visa holders are allowed to work for minimum wage or more in the United States.
Q:
Which of the following is NOT a cause for an oligopoly to exist?A) economies of scale B) structural dependenceC) barriers to entry D) horizontal mergers
Q:
Cliff Thomas, a cardiologist, emigrates from the United Kingdom to the United States. Under which of the following visa categories can his wife live in the United States as
Dr. Thomas' dependent?
A) H1
B) H4
C) H-1C
D) H-1B
Q:
An ________ visa allows U.S. employers to employ in the United States foreign nationals who are skilled in specialty occupations.
A) H1
B) H4
C) H-1C
D) H-1B
Q:
How does the Landrum-Griffin Act regulate the internal affairs of unions? Can unions discipline their members? Explain your response.
Q:
Distinguish between strikes and picketing. When is picketing lawful?
Q:
Which of the following statements is true about the economic profits earned by a monopolistic competitor firm in the long run?A) Economic profits can be positive since firms have some degree of monopoly power.B) Economic profits will be positive since the firm has a downward sloping demand curve. C) Economic profits will tend towards zero since positive profits will attract new firms into the industry.D) Economic profits can be negative since there is so much competition in the market.
Q:
List and explain the types of strikes that are considered unlawful under federal labor law.
Q:
________ Act, also known as labor's "bill of rights," gives each union member equal rights and privileges to nominate candidates for union office, vote in elections, and participate in membership meetings.
Q:
________ picketing is a type of picketing in which a union tries to bring pressure against an employer by picketing the employer's suppliers or customers.
Q:
The right to picket is implied from the ________ Act.
Q:
Suppose that the profit maximizing level of output for the monopolist is 100 units, and ATC =$45.00; MC = $35.00; MR = $35.00; P = $50.00. What is the monopolyʹs profit?A) -$1000 B) $4500 C) $5000 D) $500
Q:
When individual union members go on strike without proper authorization from the union, it is referred to as a(n) ________ strike.
Q:
Employees who choose not to strike or return to work after joining the strikers for a period of time are known as ________ workers.
Q:
It is illegal for a strike to take place in violation of a negotiated ________ clause.
Q:
A union is allowed to discipline members for working for wages below union scale.
Q:
Why would it be economically inefficient for a firm to charge the price of a good greater than its marginal cost?
Q:
The WARN Act is a federal law that requires employers with one hundred or more employees to give their employees sixty days' notice before engaging in certain plant closings or layoffs.
Q:
Picketing that prevents customers from entering the employer's place of business is illegal.
Q:
Secondary boycott picketing is not lawful if it is against the primary employer's product.
Q:
OutputTotal Costs100$400101402102405103409104414105420106427107435Refer to the above table. If the price is $6 the maximum profit this firm could earn isA) $210. B) $414. C) $420. D) $630.
Q:
Employees who choose not to return to work after joining the strikers are known as crossover workers.
Q:
If an employer reasonably anticipates a strike by some of its employees, it may prevent those employees from entering the plant or premises. This is called an employer lockout.
Q:
Sit-down strikes are illegal.
Q:
It is legal for a union to begin a strike thirty days after it has informed the employer about the strike.
Q:
When average variable costs are rising,A) marginal physical product is also rising. B) marginal costs is falling.C) average physical product is rising. D) average physical product is falling.
Q:
The ________ is a federal act that requires employers with one hundred or more employees to give their employees sixty days' notice before engaging in certain plant closings or layoffs.
A) Norris-LaGuardia Act
B) Labor Management Relations Act
C) Worker Adjustment and Retraining Notification Act
D) Labor Management Reporting and Disclosure Act
Q:
Secondary boycott picketing is lawful only if it is directed at ________.
A) the primary employer's product
B) the neutral employer
C) customers who purchase the product
D) employees not part of the union
Q:
If union members picketing a restaurant block deliveries to and from the restaurant, this is ________ picketing.
A) lawful
B) illegal
C) conditional
D) absolute
Q:
In which of the following circumstances is picketing unlawful?
A) when picketing obstructs customers from entering the employer's place of business
B) when picketing is carried out against the subject employer's product
C) when picketing is carried out against a neutral employer
D) when the employer institutes a "lockout" against the picketers
Q:
Fredʹs Franks originally sold hotdogs and soft drinks from a cart located in front of City Hall.Then Fred purchased another hotdog cart and hired someone to sell hotdogs and soft drinks near the high school. Both locations have been successful. When Fredʹs Franks expanded to two locations, which of the following did NOT occur?A) Fredʹs production function changed. B) Production increased.C) The company increased the inputs it employs. D) The firm employed additional capital.
Q:
Strikers walking in front of their employer's premises while carrying signs announcing the strike is known as ________.
A) occupying
B) picketing
C) locking out
D) boycotting
Q:
What legal course of action is available to a corporation if its employees go on strike without any notice?
A) threaten the employees with plant closure if they continue to strike
B) dissolve the union within the company
C) dismiss the striking employees
D) solicit on behalf of a second union to represent company employees
Q:
Tank is a director and the majority shareholder of Unique New Investment Corporation (UNIC). Tank buys, for $1,500, an option to purchase a tract of real estate for $50,000. Tank forms Vista Property, Inc., to hold the option. As the majority shareholder, and thus controlling director, of UNIC, Tank orders the firm to authorize the purÂchase of the land from Vista Property for $500,000. Tank then has Vista Property buy the land, sell it to UNIC, and loan the money to UNIC for the purchase at a 10 percent interest rate. Wim, a minority shareholder in UNIC, complains to UNIC's board, which takes no action. Wim files a suit against Tank on UNIC's behalf. Will Wim prevail? Explain.
Q:
Once a strike begins, the employer may continue operations by ________ to take the place of striking employees.
A) hiring replacement workers
B) hiring undocumented workers
C) acquiring crossover workers
D) acquiring wildcat strikers
Q:
Mitch is a director and officer of Numero Uno, Inc. Mitch makes a marÂketÂing decision that results in a dramatic decrease in profits for Numero Uno and its shareholders. The shareholders accuse Mitch of breaching his fiduciÂary duty to the corporation. What is Mitch's best defense against this acÂcuÂsation? Later, a resolution comes before the Numero Uno board to compete with One-of-a-Kind Corporation. Mitch is a direcÂtor and shareholder of One-of-a-Kind. What is Mitch's responsibility in this situation?
Q:
The laborers at Lillon Fabrics are paid on a daily-wage basis. When the employee union announces a strike that involves a cessation of work, one of the employees, Lina, is hesitant to participate in it as it would mean her employer withholding her pay. Which of the following is true of this case?
A) Lina must participate in the strike, as participation in all union activities is mandatory for employees.
B) Lina cannot be compelled by the union to participate in the strike.
C) Lina's employer is obligated to pay her even if she ceases to work and joins the strike.
D) Lina must find a replacement employee before joining the strike.
Q:
Owner-provided capital and owner-provided labor are examples ofA) explicit costs. B) implicit costs.C) normal rate of return. D) accounting costs.
Q:
Starr Cardio, Inc., is a small business. Ted, Uma, and eleven other memÂbers of the Starr family own all of its stock. Currently, Starr's income is taxed at the corporate level and, after being distributed to the family members, at the shareholder level. Can Starr retain its corporate status but othÂerÂwise avoid this double taxation? If so, how?
Q:
If an employer reasonably anticipates a strike by some of its employees, it may legally arrange a(n) ________ to prevent these employees from entering the work premises.
A) strike
B) picket
C) employer lockout
D) secondary boycott
Q:
Officers and employees of Apples Corporation and Oranges Corporation are convicted of conspiring to violate a fedÂeral law that is punishable by a term of imprisonment and a fine. Can Apples and Oranges be held liable for these crimes? If so, how can they be punished?
Q:
Which of the following best describes a wildcat strike?
A) Union members occupy the employer's premises while striking.
B) Union members strike part of the day or workweek and work the other part.
C) Individual union members go on strike without proper union authorization.
D) The union declares an indefinite cessation of work.
Q:
Clark is a shareholder of Bedrest Mattress Company. Clark will be deemed to have a fiduciÂary duty to Bedrest and its minority shareÂholders if he has
a. preferred stock.
b. a right of first refusal.
c. a sufficient number of shares to exercise de facto control.
d. watered stock.
Q:
Which of the following is an illegal strike?
A) a sit-down strike at the employer's premises
B) a work absence
C) the cessation of work
D) an employer lockout
Q:
Ruben is a shareholder of Speed Bikes Company (SBC). When the direcÂtors fail to undertake an action to redress a wrong suffered by SBC, Ruben files a suit on the firm's behalf. Any damages recovered by Ruben's suit will normally go to
a. Ruben.
b. SBC.
c. SBC's directors.
d. the state in which SBC is incorporated.
Q:
A ________ is a cessation of work by union members in order to obtain economic benefits or correct an unfair labor practice.
A) collective bargain
B) strike
C) crossover
D) persuasion
Q:
Use the above figure. When the budget line rotates from ʺcʺ to ʺbʺA) fewer units of J and fewer units of K will be purchased.B) more units of J and more units of K will be purchased. C) fewer units of J and more units of K will be purchased. D) more units of J and fewer units of K will be purchased.
Q:
Fiona owns one share of stock in GR8 Boards Corporation, as evidenced by a stock certificate. Fiona loses the certificate. Her ownership of the stock is
a. forfeited immediately.
b. forfeited within ten days of a third party's claim to ownership.
c. forfeited within thirty days if she cannot find the certificate.
d. not affected.
Q:
Outline the act of collective bargaining.
Q:
Zero Sum Games Corporation has forty-three shareholders. The miniÂmum number that must be present at a meeting for a shareholders' vote is
a. all of the shareholders.
b. a quorum.
c. a proxy.
d. three of the shareholders.
Q:
Wages, hours, and other terms and conditions of employment are ________ of collective bargaining.
Q:
Heidi and Ian are directors and shareholders of Globe Software, Inc. Heidi's written authorization to Ian to vote Heidi's shares at a Globe shareholders' meeting is
a. a violation of the duty of loyalty.
b. a preemptive right.
c. a proxy.
d. a quorum.
Q:
Under a(n) ________ agreement, an employer agrees to hire only employees who are already members of a union.
Q:
Gladys is a shareholder of Frozen Yogurt, Inc. As a shareholder, Gladys must approve
a. amending the bylaws.
b. declaring a corporate dividend.
c. hiring a chief executive officer.
d. issuing additional shares.
Q:
Under an agency shopagreement, an employer may hire anyone whether he or she belongs to a union or not.
Q:
When the marginal utility per dollar of good x exceeds the marginal utility per dollar of good y, A) the consumer should consume more of good x.B) the consumer is consuming too much of good x. C) good y must have a negative marginal utility.D) the consumer is in an optimal situation if the price of good x exceeds the price of good y.
Q:
Naomi and Ogden are shareholders of MediCare Residences, Inc. As shareholders, they must approve
a. conducting a merger.
b. deciding to pursue new business opportunities.
c. terminating a managerial employee.
d. negotiating a contract between management and labor.
Q:
Closed shop security agreements are illegal in the United States.