If a Single Union Supplies All the Labor in a Competitive

question 6

Multiple Choice

If a single union supplies all the labor in a competitive labor market, the union probably will:

• A) increase labor supply to raise employment.
• B) restrict labor supply to raise wages.
• C) increase union membership to increase wages.
• D) behave as a monopsonist.

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Definitions:

Situational Factors

Environmental circumstances or conditions that can affect behavior and decision-making.

Setbacks

Obstacles or reversals in progress that delay or prevent the achievement of goals.

Stressful Circumstances

Situations or periods causing significant stress, often due to pressure, uncertainty, or the demands placed upon an individual.

Optimists

Individuals who generally expect positive outcomes and focus on the good aspects of life.