Can unionization in an industry adversely affect productivity? Explain your answer
What will be an ideal response?
Unionization of labor in an industry can adversely affect productivity if it prevents an efficient allocation of labor across different tasks. It can also affect productivity aversely if it does not allow reduction in the number of workers or wages when required.
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Leona and Bernie have committed a crime. If Leona denies committing the crime, Bernie can lower his penalty from 5 years to 2 years by confessing to the crime
If Leona confesses to the crime, Bernie can lower his penalty from 18 years to 7 years by confessing to the crime. Based on this information, we know with certainty that A) Bernie's dominant strategy is to deny the crime. B) Bernie has no dominant strategy. C) Bernie's dominant strategy is to confess to the crime. D) Bernie's dominant strategy is to confess to the crime only if Leona denies committing the crime.
The Sherman Act of 1890 was passed to prohibit
A) combinations, trusts, or conspiracies to restrict interstate or international trade. B) monopolization or attempts to monopolize interstate or international trade. C) both of the above. D) neither of the above.
A good definition of the meaning of development is the
a. elimination of absolute poverty. b. improvement in the quality of life. c. fulfillment of the potential of individuals. d. all of the above.
GDP will tend to overstate the productive capacity of a country when
a. economic bads like pollution are produced and then must be cleaned up. b. there is a sizable underground economy. c. nonmarket production represents a large portion of the economy. d. working conditions improve, allowing jobs to be completed safer and faster.