Which of the following best defines final-offer arbitration?
A. An arbitrator produces a contract that the union and firm are both encouraged to accept.
B. An arbitrator chooses the firm's last offer or the union's last offer, and both sides must abide by whichever contract is chosen.
C. After a short strike, the union offers a final contract to the firm that the firm must accept.
D. Final-offer arbitration occurs when the firm threatens to shut down unless the union accepts the firm's final offer.
E. An arbitrator facilitates a discussion between the union and firm after the cool-down period has expired.
Answer: B
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