If Workers Demand and Receive Higher Real Wages (A Successful

question 33

Multiple Choice

If workers demand and receive higher real wages (a successful wage push) ,the cost of production ________ and the short-run aggregate supply curve shifts ________.

• A)rises;leftward
• B)rises;rightward
• C)falls;leftward
• D)falls;rightward

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Definitions:

Bargaining Impasses

Occurs when the parties involved in negotiation, particularly in labor negotiations, are unable to reach an agreement despite prolonged discussions.

Dispute Resolution

The process of resolving a dispute or conflict between parties through negotiation, mediation, arbitration, or legal actions.

Third Party Dispute

A conflict involving an external entity that is not a direct party to the initial issue or disagreement, often requiring resolution through mediation or arbitration.

Nonbinding Recommendations

Suggestions offered by a mediator or arbitrator that do not have to be legally followed by the parties in a dispute.