Unions Attempt to Raise Wage Rates for Their Members by

question 21

Multiple Choice

Unions attempt to raise wage rates for their members by

• A) Reducing the supply of the product their members produce.
• B) Lowering barriers to entry so their members have greater opportunities.
• C) Reducing the demand for labour so there are fewer non-union competitors.
• D) Negotiating a higher wage rate through collective bargaining.

---

Definitions:

Absorption Costing

is an accounting method that includes all manufacturing costs (direct materials, direct labor, and both variable and fixed overhead) in the cost of a product.

Unit Product Cost

The total cost (including materials, labor, and overhead) to produce a single unit of a product.

Break-even Sales

The amount of revenue required to cover both the variable and fixed costs of a business, resulting in no profit and no loss.

Southern Division

A specific geographic segment of a company, typically focused on operations within the southern region of a country or market.