Unions
a. do not affect the natural rate of unemployment.
b. lower the wages of unionized workers.
c. raise the profits of unionized firms.
d. lower the wages of workers in industries without unions.
d
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If the price of hamburger meat increases by 20 percent and the quantity supplied by meat packing companies increases by 30 percent, what is the price elasticity of supply?
A) 1.65 B) 1.20 C) 0.67 D) 1.50
The Organization of Petroleum Exporting Countries is a
a. professional trade association for oil companies. b. cartel. c. consortium for joint ventures in oil exploration. d. loose collection of democracies that promote international pipelines.
If businesses forecast significant economic growth in the future, the demand for loanable funds will increase, shifting the demand curve for loanable funds to the right
a. True b. False Indicate whether the statement is true or false
Which of the following is not a contention of advocates of unions?
a. Unions are a necessary antidote to the market power of the firms that hire workers. b. In the case of a "company town," a union may balance the firm's market power and protect the workers from being at the mercy of the firm's owners. c. The introduction of a union benefits all workers in a firm. d. Unions are important for helping firms respond efficiently to workers' concerns.