If Unions Develop Increasingly Difficult, Expensive, and Time-Consuming Requirements to Qualify

question 166

Multiple Choice

If unions develop increasingly difficult, expensive, and time-consuming requirements to qualify for membership, which of the following is most likely to occur?

• A) Equilibrium market wages will tend to fall.
• B) The supply of labor will increase.
• C) The supply of labor will remain unchanged.
• D) The supply of labor will decrease.

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Definitions:

Level Schedules

Production planning method that maintains a consistent output rate or workforce level, avoiding fluctuations in response to changing demand.

Shigeo Shingo

A Japanese industrial engineer known for his influential work in the Toyota Production System and the development of lean manufacturing principles.

Inventory Is Evil

A principle in lean manufacturing and just-in-time (JIT) production that highlights the drawbacks of holding excess inventory, including high costs and potential wastage.

Setup Cost

A financial amount charged for the initial work to configure, prepare, or adjust machinery or equipment for a production run.