The union would have a better bargaining position in the negotiations if
a. The firm can hire individual workers at a lower wage
b. The union has low wage workers who cannot afford to be off work
c. The union has a strike fund to pay workers during work stoppage actions
d. The firm can easily replace workers with machinery
c
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"The rigid link between monetary growth and inflation . . . had been broken." M1 grew faster in the deflationary 1980s than in the inflationary 1970s. Why?
A) The demand for money increased, reducing spending. B) The demand for money decreased, due to financial deregulation. C) The demand for money increased, as did velocity. D) The demand for money decreased and the Fed targeted the money supply.
If a professional association restricts membership and firms cannot employ nonassociation workers, the equilibrium wage will increase
a. True b. False
In an expanding economy,
a. prices rise faster than costs. b. costs rise faster than prices. c. profit margins decrease. d. interest rates fall.
The higher the rate of inflation, the lower the:
A. real interest rate can fall. B. real interest rate can fall, as long as it is positive. C. nominal interest rate can fall. D. nominal interest rate can fall, as long as it is positive.