Suppose That in Some Country, Neither Textile Workers nor Shoemakers

question 135

Multiple Choice

Suppose that in some country, neither textile workers nor shoemakers are unionized. If textile workers unionize and so are able to raise their wages, which of the following will most likely happen to shoemakers?

• A)The demand for shoemakers will rise, and their wages will rise.
• B)The demand for shoemakers will fall, and their wages will fall.
• C)The supply of shoemakers will rise, and their wages will fall.
• D)The supply of shoemakers will fall, and their wages will rise.

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Definitions:

Mode

The value that appears most frequently in a data set, a measure of central tendency.

College Student

A person who is enrolled in an institution of higher education to pursue a degree or certificate.

Final Exam Week

A designated week at the end of a term or semester during which final exams are administered.

Mean Salary

The average amount of money earned by employees in a particular job, industry, or region, calculated by summing all salaries and dividing by the number of employees.