When a Union Bargains Successfully with Employers,in That Industry

question 15

Multiple Choice

When a union bargains successfully with employers,in that industry,

• A)both the quantity of labor supplied and the quantity of labor demanded increase.
• B)both the quantity of labor supplied and the quantity of labor demanded decrease.
• C)the quantity of labor supplied increases and the quantity of labor demanded decreases.
• D)the quantity of labor demanded increases and the quantity of labor supplied decreases.

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Definitions:

Buyers

Individuals or entities that purchase goods or services for personal use, resale, or production.

Sellers

Individuals or entities that offer goods or services in exchange for compensation.

Tariff

A tax imposed on imported goods and services to restrict trade, often with the aim of protecting domestic industries.

Domestic Watches

Timekeeping devices produced within a country's borders, often referring to the industry or market for watches in that country.