Which of the Following Is Not Correct

question 44

Multiple Choice

Which of the following is not correct?

• A)When a union is present in a labor market,wages are not determined by the equilibrium of supply and demand.
• B)Like any cartel,a union is a group of sellers acting together in the hope of exerting their joint market power.
• C)The process by which unions and firms agree on the terms of employment is called a strike.
• D)Most workers in the U.S.economy are not members of a union.

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Definitions:

Extended Period

A length of time that is longer than usual or expected.

Primary Group

A small social group characterized by close, personal, and enduring relationships, which significantly influence the attitudes and ideals of those involved.

Concert Audience

The group of people who attend and watch a musical performance at a concert venue.

Secondary Group

A large and impersonal social group whose members pursue a specific goal or activity but typically have a detached and superficial relationship with one another.