If a Union Negotiates and Obtains a Wage Rate Above

question 271

Multiple Choice

If a union negotiates and obtains a wage rate above the competitive wage rate,

• A) it must find a way to make workers more productive.
• B) employment in the union sector will increase relative to employment in the nonunion sector.
• C) it must find a way to ration jobs among the excessive number of workers who wish to work in the union sector.
• D) unemployment will increase in the nonunion sector relative to the union sector.

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Definitions:

Written Acknowledgment

A written statement confirming the receipt of something, often used in tax documentation for charitable donations.

Charitable Organization

A nonprofit entity that operates to perform charitable acts, provide education, religious, or public service activities, eligible for tax-exempt status under the IRS.

Charitable Deduction

A tax deduction that taxpayers can claim for donations made to qualifying charitable organizations.

Casualty Losses

Financial losses resulting from sudden, unexpected events like natural disasters, accidents, or thefts, potentially deductible under tax laws.