34-Efforts by a union representative to organize a union are protected from empl

Question

34-Efforts by a union representative to organize a union are protected from employer interference by the: a.Taft-Hartly Act. b.Landrum-Griffin Act. c.Norris-La Guardia Act d.Sherman Act e.Wagner Act 35.The negotiations between union and management over wages and working conditions is known as: a.Union-shop bargaining b.Arbitration c.Disinterested mediation d.Labor relations e.Collective bargaining 36.Rent, interest, and profit are forms of: a.Bookkeeping income b.Property income c.Nonproductive income d.Surplus income e.Fixed income 37.The value of an asset such as bond will rise when: a.Interest rates rise b.Interest rates fall c.The price of bonds falls d.The supply of loanable funds decrease e.The demand for loanable funds increase 38.Accounting profits differ firm the economist’s concepts of profits because accounting profits: a.Fall less rapidly during recession b.Are excluded from calculations for the national income c.Are corrected for differences in the quality of management provided by owners d.Are measured in a way that does not fully reflect the opportunity costs of firms resources e.Vary among industries whereas economic profits are the same among all industries 39.Profits as a consequences of exploitation of labor and the appropriation of labor’s surplus value is a theory closely associated with: a.Karl Marx b.Henry George c.William Lorenz d.Thomas Malthus e.Joseph Schumpeter 40.Our usury laws stemmed from the idea that: a.Interest represents labor surplus appropriated by business b.Interest rates are not prices and therefore not subject to the laws of supply and demand c.Money is a medium of exchange and not a store of value d.Money is an asset which is fixed in supply e.Charging someone for the use of money is evil.

Explanation / Answer

Answers:

34. Efforts by a union representative to organize a union are protected from employer interference by the:

Answer: (c) Norris-La Guardia Act

35. The negotiations between union and management over wages and working conditions is known as:

Answer: (b) Collective bargaining

  Collective bargaining is the process of negotiation between workers or employees and the employers or owners.

36. Rent, interest, and profit are forms of: Property income

Answer: (b) Property income

   The property income refers to income received by virtue of owning property. The Rent, interest and profits are forms of property income. The rent receives from the ownership of natural resources; the interest receives from virtue of owning financial assets; and the profit receives from the ownership of capital equipment.

37. The value of an asset such as bond will rise when:

Answer: (b) Interest rates fall

   If market interest rates decrease, the value of a bond will increase, this means that bond prices increases when interest rates decrease. Because the fixed interest and principal payments stated in the bond will become less attractive to investors. The bonds stated fixed interest payments will be greater than the amounts available in new bonds issued at current market interest rates.

39. Profits as consequences of exploitation of labor and the appropriation of labor’s surplus value is a theory closely associated with:

Answer: (a) Karl Marx

40. Our usury laws stemmed from the idea that:

Answer: (a) Interest represents labour surplus appropriated by business

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