Which of the Following Will Tend to Lower the Ability

question 648

Multiple Choice

Which of the following will tend to lower the ability of a union to increase the wages of its members?

• A) strong competition from nonunion labor
• B) threat of a strike
• C) increased demand for union labor
• D) all of the above

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Definitions:

Independent Goods

Products or services whose demand is not directly related to the demand for other goods; their consumption or purchase does not affect the consumption or purchase of other products.

Quantity Supplied

The amount of a good that producers are willing to sell at a given price over a specified period.

Quantity Demanded

The amount of a good or service consumers are willing and able to purchase at a given price.

Price

The cost at which a product or service is offered for sale in the marketplace.