If There Are Powerful Unions in a Labor Market, the Use

question 65

Multiple Choice

If there are powerful unions in a labor market, the use of the supply and demand model to analyze labor markets

• A)will cause you to believe that more people will be hired than there will be.
• B)is completely accurate.
• C)will cause you to believe the wage will be lower than it is.
• D)will cause you to believe that fewer people will be hired than there will be.

---

Definitions:

Divided Tasks

The breaking down of tasks into smaller, more manageable parts to be completed by different individuals or teams, often to increase efficiency.

Piece Rates

A pay system where employees are paid based on the quantity of units they produce or tasks they complete.

Commissions

Payments made to employees or agents based on the value of sales or similar transactions they facilitate or complete.

Gainsharing

A performance-based compensation strategy where employees receive bonuses based on improvements in the company's productivity, efficiency, or profitability.