A Craft Union Is an Example of a Monopsony Labor

question 100

True/False

A craft union is an example of a monopsony labor market.

---

Definitions:

Judicial Review

The process by which courts decide on the constitutionality of legislative enactments and actions of the executive branch.

Congressional Approval

The act of obtaining official permission or endorsement from the United States Congress for certain actions, laws, or regulations.

International Jurisdiction

The legal authority granted to a country or international body to regulate matters involving parties, activities, or conduct that crosses international boundaries.

Jurisdiction

Refers to the official power to make legal decisions and judgments.