Among Possible Union Strategies, the One That Can Both Raise

question 7

Multiple Choice

Among possible union strategies, the one that can both raise wages and add to employment is

• A)restricting the supply of workers.
• B)raising the demand curve for the product or for labor.
• C)fixing the wage.
• D)striking frequently.

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Definitions:

Firm's Profits

The financial gains that a company makes after subtracting all its costs from its total revenues.

Human Capital

Proficiencies, education, and experiences attributed to an individual or a group, appraised concerning their fiscal value or expense to a business entity or a national economy.

Social Processes

Patterns of interaction between individuals and groups that shape society and social change over time.

Political Processes

The methods and actions through which political decisions, policies, and laws are formed, decided, and implemented.