​If a Union Collective Bargaining Results in a Surplus of Labor

question 133

Multiple Choice

​If a union collective bargaining results in a surplus of labor in some industries, the resulting:

• A)increase in demand for labor in the nonunion sector drives nonunion wages up.
• B)decrease in demand for labor in the nonunion sector drives nonunion wages down.
• C)increase in supply of labor in the nonunion sector drives nonunion wages down.
• D)increase in supply of labor in the nonunion sector drives nonunion wages up.
• E)decrease in supply of labor in the nonunion sector drives nonunion wages up.

Understand the concept of the short-run aggregate supply curve and its characteristics.

Explain the relationship between price levels and output in the short-run.

Identify factors that cause movements along the short-run aggregate supply curve.

Describe conditions that lead to shifts in the short-run aggregate supply curve.

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