If Union Officials Are Able to Increase Wages Through Collective

question 97

Multiple Choice

If union officials are able to increase wages through collective bargaining, _____.

• A)the quantity of union labor demanded will increase, as firms will want to hire more workers
• B)the workers who already have jobs will benefit, but some equally skilled workers will be worse off
• C)there will be a leftward shift of the labor supply curve and a rightward shift of the demand for labor curve
• D)the quantity of union labor supplied will decrease because unionized workers will prefer leisure over more work
• E)there will be a huge decline in wage rates in the long run

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Definitions:

Reporting

The process of formally communicating information, outcomes, or progress through various means such as written documents, presentations, or verbal updates.

Ethical

Pertaining to or dealing with morals, principles of morality concerning right and wrong behavior.

Competition

Competition involves the rivalry between entities, such as businesses or individuals, striving for a common goal, such as market dominance or recognition, driving innovation and improvements.

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The circumstances or factors affecting the way in which people live or work, especially with regard to their safety or well-being.