If a Union Is Able to Restrict the Supply of a Non-Union-Made

question 50

Multiple Choice

If a union is able to restrict the supply of a non-union-made substitute product,

• A)wages will increase but employment will decrease
• B)wages will increase and employment will increase
• C)wages will decrease but employment will increase
• D)wages will decrease and employment will decrease
• E)the demand for non-union labor will increase

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Definitions:

Regular Time Cost

The expense incurred from labor during normal working hours, excluding overtime or premium pay rates.

Over Time Cost

Additional expenses incurred for labor or operations that extend beyond the regular working hours, often at higher rates.

Supply Chain

The network of individuals, organizations, resources, activities, and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, and on to its final customer.

Demand Impact

The effect that changes in demand have on the business operations, supply chain, or the market as a whole.