A Union Is Formed to Restrict Labour Supply in a Previously

question 77

Multiple Choice

A union is formed to restrict labour supply in a previously perfectly competitive labour market. If the union succeeds in raising the wage, everything else remaining the same,

• A)employment will fall.
• B)employment will rise.
• C)employment will not change.
• D)the total wage bill will rise.
• E)the total wage bill will fall.

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Definitions:

Sweet Sixteen

A term traditionally referring to a coming-of-age party celebrating a teenager's 16th birthday, primarily in the United States.

Environment

The natural world, including land, water, air, plants, and animals, as well as the physical and biological conditions affecting human life and society.

Feedback

Information provided about the result of a process or activity, used as a basis for improvement or adjustment.

Significant Other

A significant other is a term used to describe a person who plays a major or central role in an individual's life, often a romantic partner but can also include a close friend or family member.