Which of the Following Is Correct

question 5

Multiple Choice

Which of the following is correct?

• A)In unionized industries,wages are above the level that would prevail in competitive markets.
• B)The introduction of a union in some industry reduces the quantity of labor demanded in that industry,causes some workers in that industry to be unemployed,and reduces wages in the rest of the economy.
• C)Critics argue that the allocation of labor resulting from unions is both inefficient and inequitable.
• D)All of the above are correct.

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Definitions:

Contingency Table

A contingency table is a type of table in a matrix format that displays the frequency distribution of the variables. It helps in analyzing the relationship between two or more categorical variables.

MINITAB Output

The results or data analysis produced by MINITAB, a statistical software package.

Brand of Oil

A classification or type of oil distinguished by its producer, properties, and potential applications, often used in cooking, machinery, or as a raw material.

Chi-Square Test

A statistical method employed to ascertain whether there's a meaningful discrepancy between the frequencies that are observed and those anticipated across one or more categories.