Which of the following factors will reduce considerably the ability of a union to raise the wages of its workers?

a. an elastic demand for the goods produced by union labor
b. a five-year apprenticeship before one can qualify for jobs held by union members
c. high tariffs on goods produced by the union labor
d. favoritism in the allocation of government contracts to firms that employ union labor


A

Economics

You might also like to view...

For resources with vertical supply curves, earnings comprise of both economic rent and transfer earnings

a. True b. False Indicate whether the statement is true or false

Economics

Statistics show that countries with the lowest rates of economic growth have a strong outward-oriented development strategy

a. True b. False Indicate whether the statement is true or false

Economics

Which of the following is true?

A) When income tax rates fall, it is possible for tax revenues to rise. B) When income tax rates fall, it is possible for tax revenues to fall. C) All economists agree that a monetary rule is preferred to discretionary Fed policy. D) All economists agree that discretionary Fed policy is preferred to a monetary rule. E) a and b

Economics

Which of the following is an example of the precautionary motive for saving?

A. Jordan sets aside $200 per month in case she has to pay for a new roof for her house. B. Every month, Chris puts $400 into his saving account so that he can buy a new car in a few years. C. Pat puts $400 per month in his 401(k) retirement account. D. Gerry and Terry put $2,000,000 in a trust fund that will go to their children when the parents die.

Economics