Figure 3-5 -In Figure 3-5,suppose a Change Takes Place and as a and as a Result

question 121

Multiple Choice

Figure 3-5
-In Figure 3-5,suppose a change takes place and as a result a new equilibrium occurs at point B.The change could have been caused by

• A)a reduction in the wages paid to workers in the CD industry.
• B)a decrease in the incomes of consumers.
• C)an increase in the tax on CDs.
• D)an increase in demand for CDs.

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Definitions:

Nationwide Boycotts

Organized refusal to buy or use products and services across an entire country to protest policies or practices considered objectionable.

Representativeness

The degree to which elected or appointed representatives in a decision-making body reflect the demographics or opinions of the larger group they represent.

Business Unionism

A union model focused on negotiating labor contracts pertaining to wages, benefits, and working conditions, rather than broader societal or political goals.

Collective Bargaining

The process by which labor unions and employers negotiate contracts regarding wages, hours, benefits, and working conditions on behalf of employees.