Suppose a Union Successfully Negotiates for Its Members a Wage

question 74

Multiple Choice

Suppose a union successfully negotiates for its members a wage rate that is above the competitive wage rate, then

• A) there will be a surplus of jobs.
• B) antitrust laws become effective.
• C) there will be downward pressure on the wage rate until equilibrium is established.
• D) there will be an excess supply of labor.

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Definitions:

Eysenck

A psychologist known for his work in the fields of personality, behavior genetics, and the biological basis of intelligence.

Extraversion-Introversion

A personality dimension that characterizes individuals on a continuum from outgoing and energy-gathering from external sources (extraversion) to quiet and energy-gathering from internal sources (introversion).

Autonomic Reactivity

The degree to which the autonomic nervous system responds to stress or emotional stimuli, affecting heart rate, breathing, and other involuntary functions.

Intelligence

The ability to acquire and apply knowledge and skills.