There Is a Clear Consensus Among Economists That Unions Are

question 25

Multiple Choice

There is a clear consensus among economists that unions are

• A)good for the economy because they result in higher wages for most workers.
• B)good for the economy because they are a necessary antidote to the market power of employers.
• C)bad for the economy because they are cartels and therefore detrimental to an efficient allocation of resources.
• D)None of the above is correct;there is no clear consensus among economists about whether unions are good or bad for the economy.

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Definitions:

Laboratory Experiment

A research method in which variables can be controlled and manipulated in a highly regulated environment to observe the effects on other variables.

Psychological Experiment

An investigation in which a researcher manipulates one or more variables to observe the effect on some behavior or mental process.

Negative Correlation

A relationship between two variables in which one variable increases as the other decreases, indicating an inverse association.

Correlation Coefficients

Statistical measures that describe the extent to which two variables change together, indicating the strength and direction of a linear relationship between them.