Regarding the Impact of Unions on Wages of All Workers

question 131

Multiple Choice

Regarding the impact of unions on wages of all workers, which of the following statements is correct?

• A) Approximately 50 percent of our national income is allocated to human capital, while the remaining 50 percent is allocated to physical capital in the form of rents, interest, and corporate profits.
• B) As union membership as a share of the U.S. labor force has declined during the last three decades, the share of national income allocated to physical capital has risen.
• C) Unions have consistently opposed minimum wage legislation because it tends to cause unemployment.
• D) During the past several decades, the share of output going to capital has been virtually constant, even though union membership as a share of the labor force has decreased.

Comprehend the factors motivating behavior, including excitatory potential and frustration.

Outline the process through which environmental cues influence learned behavior and motivation.

Identify the mechanisms through which drives, both primary and acquired, are formed and influence behavior.

Appreciate the dynamics of homoeostasis in maintaining internal equilibrium.

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Definitions:

Market Failures

Situations where the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.

Environmental Regulations

Laws and rules designed to protect the environment that set limits on pollution, require permits for certain activities, and impose penalties for violations.

Special Interests

Groups that seek to influence governmental or organizational decisions in favor of their specific concerns or objectives.

Transaction Costs

Expenses incurred when buying or selling goods or services, including search, bargaining, and enforcement costs of a deal.