When a Union Raises the Wage Above the Equilibrium Level,it

question 37

Multiple Choice

When a union raises the wage above the equilibrium level,it

• A)reduces both the quantity of labor supplied and the quantity of labor demanded.
• B)reduces the quantity of labor supplied and raises the quantity of labor demanded.
• C)raises the quantity of labor supplied and reduces the quantity of labor demanded.
• D)raises both the quantity of labor supplied and the quantity of labor demanded.

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Definitions:

Debt Investments

Investments made by purchasing bonds or other debt instruments, with the expectation of earning interest income and the return of principal.

Net Income

The amount of profit left after all operating expenses, taxes, and interest are deducted from total revenue.

Interest Receivable

An asset account on the balance sheet representing the amount of interest income that has been earned but not yet received in cash.

Interest Revenue

Income earned by lending funds or allowing another entity to use your funds, such as interest from savings accounts, bonds, or loans receivable.