Question

Collective bargaining refers to a. firms colluding to set the wages of employees below equilibrium. b. the process by which unions and firms agree on the terms of employment. c. the process by which the government sets exemptions from the minimum wage law. d. setting the same wage for all employees to prevent conflict among workers.

Answer 1

Answer: the process by which unions and firms agree on the terms of employment.

Step-by-step explanation:

Collective bargaining is the negotiation that takes place between the employers and the workers in order to reach an agreement regarding the wages or salaries, benefits, sworking conditions, and other rights for the employees.

Therefore, collective bargaining is the process by which unions and firms agree on the terms of employment.