When a Union Raises the Wage Above the Equilibrium Level

question 433

Multiple Choice

When a union raises the wage above the equilibrium level,

• A)the quantity of labor supplied and unemployment both rise.
• B)the quantity of labor supplied and unemployment both fall.
• C)the quantity of labor supplied rises and unemployment falls.
• D)the quantity of labor supplied falls and unemployment rises.

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Definitions:

Survey

A method of gathering information from a sample of individuals in a systematic way to generalize findings to a larger population.

Motivation

The psychological processes that direct and maintain goal-directed behaviors and actions.

Initiation

The act of beginning or starting something, often related to ceremonies, rituals, or the formal admission into a group or activity.

Growth

Growth refers to the process of increasing in size, strength, or complexity, often seen in biological, personal, or economic contexts.