Which of the Following Methods Is Used by Unions to Increase

question 121

Multiple Choice

Which of the following methods is used by unions to increase the demand for the labor of its members?

• A) Decrease the marginal product of union members.
• B) Support minimum wage laws.
• C) Oppose import restrictions.
• D) Decrease demand for the good produced.

Differentiate between market-based and command-based economies.

Recognize the factors affecting the efficiency of labor and capital utilization.

Understand fiscal and monetary policies and their application in economic scenarios.

Understand the concept of the payback period and its application in evaluating capital investments.

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Definitions:

Turnover

The rate at which employees leave a company and are replaced, which can indicate the organization's health and work environment.

Minority Group Members

Individuals who belong to a group that experiences a lesser degree of power, social prestige, or privilege compared to the dominant groups in a society.

Uncertainty Avoidance

As a cultural value, the extent to which members of a society rely (and should rely) on social norms, rules, and procedures to lessen the unpredictability of future events.

Procedures

Procedures are established methods or sequences of actions for performing a task or solving a problem systematically.