Relative to Nonunion Wages,one Reason Union Wages Are

question 76

Multiple Choice

Relative to nonunion wages,one reason union wages are

• A)Higher is because unions are more likely in capital-intensive industries where wages tend to be higher.
• B)Lower is because unions exclude workers from the market,which hurts their ability to raise wages.
• C)Higher is because unions have workers that contribute more to society.
• D)Lower is because the percentage of the workforce that is unionized is declining.

Recognize the significance of economic models and their role in analyzing real-world situations.

Acknowledge the advantages of trade between nations, even when one is more productive.

Understand the importance of assumptions in economic modeling and their potential limitations.

Identify key factors of production and their roles.

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Definitions:

Resell

The act of selling something that one has purchased to another buyer, often for a price higher than the original purchase price.

Equipment Cost

Equipment cost refers to the purchase price and associated expenses of acquiring equipment for business operations, including delivery and installation fees.

Depreciation Tax Shield

The reduction in taxable income that results from the allowance for depreciation expenses, lowering tax liability.

CCA Rate

Capital Cost Allowance rate, used for tax purposes to determine the yearly depreciation of tangible property.