When a Union Bargains Successfully with Employers, What Happens to Quantity

question 184

Multiple Choice

When a union bargains successfully with employers, what happens to quantity of labour supplied and demanded in that industry?

• A)Both the quantity of labour supplied and the quantity of labour demanded increase.
• B)Both the quantity of labour supplied and the quantity of labour demanded decrease.
• C)The quantity of labour supplied increases and the quantity of labour demanded decreases.
• D)The quantity of labour supplied increases the quantity of labour demanded decreases.

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Definitions:

Accounts Payable

Liabilities or amounts owed by a business to suppliers or creditors for goods and services received but not yet paid for.

Independent Audit

An evaluation performed by an external entity to examine the accuracy and fairness of a company's financial statements.

Financial Ratio Analysis

A method of assessing a company's financial health and performance by using key figures from financial statements to calculate ratios for comparison and evaluation.

Income Statement Analysis

Examination of the income statement, a financial document outlining a company's revenue, expenses, and profits over a period, to assess financial performance and health.