FIGURE 14- 5

question 14

Multiple Choice

FIGURE 14- 5
-Consider a wage- setting union in an otherwise competitive labour market.If the union sets a wage above the competitive level,the effect will be

• A)to increase the amount of employment in the industry.
• B)to create a group of workers who would like to obtain jobs in the industry but cannot do so.
• C)to cause the labour supply curve to shift to the right.
• D)a level of employment which is the same as that at the competitive equilibrium wage.
• E)to raise wages for all workers who wish to work in the industry.

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Definitions:

Leipzig

A city in eastern Germany, known for its cultural heritage, including music, and historically significant as a major center for the study of psychology.

Wilhelm Wundt

A German physiologist and psychologist who is recognized as the founder of experimental psychology and the first person to call himself a psychologist.

American Psychological Association

The largest scientific and professional organization of psychologists in the United States, dedicated to advancing psychology as a science, profession, and means of promoting health, education, and human welfare.

Mary Whiton Calkins

Mary Whiton Calkins was a pioneering American psychologist and philosopher, known for being the first female president of the American Psychological Association.