Suppose There Is a Competitive Market for Retail Workers at a Large

question 39

Multiple Choice

Suppose there is a competitive market for retail workers at a large shopping mall that is large enough to constitute its own labour market.The labour demand curve is Q_D = 1000 - 20(w) .The labour supply curve is Q_S = 400 + 40(w) .Suppose that a union now successfully organizes the workers at this mall and obtains a wage rate of $11 (but does not affect the demand curve) .The number of unemployed workers in this mall labour market becomes

• A)20.
• B)40.
• C)60.
• D)80.
• E)100.

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Definitions:

Raw Materials

The basic, unprocessed resources required for manufacturing goods or providing services, such as metals, wood, oil, or agricultural products.

Outsourcing

Is the process of hiring outside firms to handle basic HRM functions, presumably more efficiently than the organization could.

Background Checks

The process of verifying an individual’s personal, financial, and/or criminal history, often done by employers to ensure the reliability of potential hires.

HR Duties

The responsibilities of the Human Resources department, including recruiting, hiring, training, and managing employee relations.