Suppose That Furniture Factory Worker Are Unionized

question 347

Multiple Choice

Suppose that furniture factory worker are unionized. If these workers decide not to be unionized,

• A)the quantity of furniture factory workers demanded will rise. The supply of workers in other industries will also rise.
• B)the quantity of furniture factory workers demanded will rise. The supply of workers in other industries will fall.
• C)the quantity of furniture factory workers demanded will fall. The supply of workers in other industries will rise.
• D)the quantity of furniture factory workers demanded will fall. The supply of workers in other industries will also fall.

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated by adding purchases to beginning inventory and subtracting cost of goods sold.

Net Purchases

The total amount spent on purchases of goods for resale after subtracting any purchase returns, allowances, and discounts.

Operating Expenses

Costs associated with running a business's day-to-day operations, excluding the cost of goods sold.

Income Summary

An account in which revenues and expenses are summarized, used in the closing process to prepare the accounts for the next period.