Chapter 01 - IntroductionChapter 01IntroductionTrue / False Questions1.(p. 1)Labor relations is the set of processes that unions and employers develop and use to resolve conflicts between employees and their representatives while accommodating each of their various goals of each.
2.(p. 1)Stock markets create the opportunity to make ownership highly liquid by providing an institutionalized mechanism for the purchase and sale of shares.
3.(p. 2)Investors and directors of a company are the people responsible for making its operational decisions.
4.(p. 2)Unions are developed to take over companies.
5.(p. 3)In democracies, laws and regulations ultimately reflect the will of the electorate.
6.(p. 3)Unions can exist without employers, but employers cannot exist without unions.
7.(p. 4)While union representation has declined from 35 percent to less than 12 percent since 1955, unions continue to exert influence on employment practices through spillovers.