Non- Unionized Workers Whose Wages Fall Due to Unionization the So-

question 12

Multiple Choice

Non- unionized workers whose wages fall due to unionization the so- called crowding effect) are more likely to be

• A)highly- educated full- time white males.
• B)in possession of scarce skills.
• C)unskilled.
• D)skilled technical workers.
• E)professional workers.

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Definitions:

Dominant Strategy

A strategy that always provides a better outcome for a player, no matter what the other players do.

Reward/Risk Ratio

A financial metric that compares the expected returns of an investment to the amount of risk undertaken to capture these returns.

Nonsystematic Variance

The portion of an asset's total variance that is attributable to factors unique to that specific asset, as opposed to broader market influences.

Market Index

A metric that measures the performance of a basket of securities intended to represent a particular market or segment of it, like the S&P 500 or NASDAQ.