What Is the Effect of Unions on Wages and Employment

question 100

Multiple Choice

What is the effect of unions on wages and employment?

• A) Unions are unlikely to affect wages and employment.
• B) Unions raise wages above the competitive equilibrium level.
• C) Unions increase the level of employment in unionized firms.
• D) Unions decrease the level of employment in nonunionized firms.

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Definitions:

Personal-Selling Process

a direct marketing approach where salespersons use personal contact with potential buyers to understand their needs and offer solutions in the form of products or services.

Customer Satisfaction

A state that is achieved when companies meet the needs and expectations customers have for their goods or services.

Long-Term Sales

Sales strategies focused on achieving sustained revenue growth over an extended period rather than immediate gains.

Needs

States of felt deprivation. Consumers feel that deprivation when they lack something useful or desirable like food, clothing, shelter, transportation, or safety.