Which of the Following Factors Will Make It Easier for a Labor

question 73

Multiple Choice

Which of the following factors will make it easier for a labor union to increase the wages of its members?

• A) a highly inelastic demand for the products produced by the union labor
• B) a readily available supply of similar products produced by nonunion labor
• C) low tariffs and strong competition from foreign firms producing the products supplied by the union labor
• D) a reduction in the demand for the products produced by the union labor

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Definitions:

Demand Instrument

A financial document that requires payment to be made by the issuer upon request by the holder of the document.

Demand Instrument

A financial document that requires immediate payment upon presentation.

Specific Time

A precise or particular moment or duration identified for an event or action.

Negotiable Instrument

A written document guaranteeing the payment of a specified amount of money, either on demand or at a set time.