Restricting the Supply of Labor in Order to Increase the Wage

question 127

Multiple Choice

Restricting the supply of labor in order to increase the wage

• A)is a tactic used by both craft and industrial unions
• B)is a tactic more likely to be used by the American Medical Association (AMA)than the United Auto Workers (UAW)
• C)is a tactic more likely to be used by the UAW than the AMA
• D)is a tactic used solely by professional groups such as lawyers
• E)has less effect on the wage than direct negotiation does

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Definitions:

Dividends

Payments made by a corporation to its shareholder members, usually as a distribution of profits.

Common Stock

A type of equity security that represents ownership in a corporation, providing voting rights and a share in the company's profits via dividends.

Book Value Per Share

A financial measure that divides a company's net asset value less any intangible assets and liabilities by the number of outstanding shares.

Par Value

The face value of a security as stated by the issuing company, which may or may not reflect its market value.