An Internal Labor Market Is

question 21

Multiple Choice

An internal labor market is:

• A)conducive to unionization because high levels of specific training endow workers with substantial bargaining power
• B)conducive to unionization because unions are highly demanded by workers in firms characterized by high turnover
• C)at odds with unionization because unions find it difficult to organize workers in firms characterized by high turnover
• D)at odds with unionization because workers and firms with such markets form a symbiotic relationship without the need for unions

---

Definitions:

Aggregate Supply

The total supply of goods and services that firms in an economy plan on selling during a specific time period, which can be influenced by factors like production technology and labor availability.

Increased Immigration

A scenario where the number of people entering a country to live permanently exceeds the number leaving, affecting various aspects of the economy, including the labor market.

Aggregate Demand

The total demand for all goods and services within an economy at a specific time and price level.

Aggregate Supply

The aggregate amount of products and services that suppliers in the economy can and are ready to provide across varying price points.