Other Things Being Equal, a Labor Union Will Find It

question 131

Multiple Choice

Other things being equal, a labor union will find it harder to obtain a wage increase for its members the

• A) less elastic is the demand for the product labor produces.
• B) easier it is to substitute other resources for labor.
• C) greater the amount of unionization in the industry.
• D) less elastic is the demand for labor.

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Definitions:

Stock Dividend

A dividend payment made in the form of additional shares rather than a cash payout, increasing the total number of shares owned by shareholders.

Shares Outstanding

The total number of shares of stock that have been issued and are currently owned by shareholders.

Book Value

The value of an asset as recorded on the balance sheet, calculated as the cost of the asset minus any depreciation.

Par Value

The nominal or face value of a bond, stock, or coupon as stated by the issuer.