If, Through Collective Bargaining, a Union Is Able to Raise

question 58

Multiple Choice

If, through collective bargaining, a union is able to raise the wage above the existing competitive equilibrium wage,

• A)fewer workers will be employed than before the wage increase.
• B)more workers will be employed than before the wage increase.
• C)the same number of workers will be employed as before the wage increase.
• D)the number of workers that will be employed is not related to the wage increase.

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Definitions:

Mode

An average of a group of values, computed by identifying the number that occurs most often.

Monthly Revenues

The total income generated by a business or entity from its activities within a month.

Bar Graph

Also known as a bar chart, a graphic presentation of statistical information resembling the histogram except that there may not be a numeric scale on the horizontal axis and the bars normally do not touch each other.

Line Graph

A type of graph often used for illustrating data over time.