Which of the Following Union Tactics,if Successful,would Increase Wages and Create

question 18

Multiple Choice

Which of the following union tactics,if successful,would increase wages and create a surplus of labor?

• A)collective bargaining to fix the wage above the competitive level
• B)decreasing the marginal revenue product of union workers
• C)increasing the demand for union-made products
• D)restricting the supply of nonunion products that compete with union-made products
• E)increasing labor productivity by minimizing conflicts and resolving differences between labor and management

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Definitions:

Required Reserves

The minimum amount of funds that a bank must hold in reserve against specified deposit liabilities, as dictated by the central bank's regulations.

Primary Reserves

Liquid assets held by financial institutions to meet regulatory requirements and immediate liquidity needs.

Secondary Reserves

Assets that are easily convertible into cash but are not held in the form of cash itself, serving as a backup for primary reserves in financial institutions.

Borrow From The Fed

The act of financial institutions taking loans from the Federal Reserve, usually to maintain reserve requirements or to stabilize liquidity.