Increased Productivity May Occur Due to Union Activity Because

question 41

Multiple Choice

Increased productivity may occur due to union activity because

• A)by definition, union workers are the most skilled in our society.
• B)unions set up training programs for their members.
• C)union activity allows workers to shape their workplaces and make them more efficient.
• D)employers demand high productivity in exchange for high wages.
• E)union members feel obligated to work hard to earn their higher wages.

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Definitions:

Ceteris Paribus

a Latin phrase meaning "all other things being equal," used in economic models to isolate the effect of one variable.

Economies of Scale

The financial advantages gained by companies due to their operational scale, where there's a general decline in the cost per unit of output with the growth in scale.

Total Demand

The entire quantity of a particular good or service that all consumers in a market want to purchase at various price levels during a specified time period.

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies as the quantity of the product sold changes.