How does an economic recession affect management’s bargaining power? How is a union’s power affected? Conduct research and discover three historical examples of recessions affecting bargaining power. Which party is most negatively affected by a recession? Support your opinion with outside references.Please follow these instructions:The requirements below must be met for your paper to be accepted and graded:· Write between 750 – 1,250 words (approximately 3 – 5 pages) using Microsoft Word in APA style.· Use font size 12 and 1” margins.· Include cover page and reference page.· At least 80% of your paper must be original content/writing.· No more than 20% of your content/information may come from references.Use an appropriate number of references to support your position, and defend your arguments. The following are examples of primary and secondary sources that may be used, and non-credible and opinion based sources that may not be used.1. Primary sources such as government websites (United States Department of Labor Bureau of Labor Statistics,United States Census Bureau,The World Bank, etc.), peer reviewed and scholarly journals in EBSCOhost (Grantham University Online Library) andGoogle Scholar.2. Secondary and credible sources such as,CNN Money, TheWall Street Journal, trade journals, and publications in EBSCOhost (Grantham University Online Library).3. Non-credible and opinion based sources such as, Wikis, Yahoo Answers, eHow, blogs, etc. should not be used.Cite all reference material (data, dates, graphs, quotes, paraphrased statements, information, etc.) in the paper and list each source on a reference page using APA style.