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Use the following to answer questions
Figure: Determining SRAS Shifts
-(Figure: Determining SRAS Shifts) If there are advances in technology,the short-run aggregate supply curve will shift from SRAS0 to _____ and the price level will become _____.
Labor Unions
Organizations that represent the collective interests of workers, negotiating wages, work conditions, and benefits with employers.
Bargaining Power
The capacity of one party to dominate negotiations due to their leverage or advantage over the other party.
Economic System
The method by which societies or governments organize and distribute available resources, goods, and services across a community or country.
Exclusive Union
A labor union agreement where the employer agrees to hire and negotiate only with one union.
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