Which of the Following Is Not Correct

question 44

Multiple Choice

Which of the following is not correct?

• A)When a union is present in a labor market,wages are not determined by the equilibrium of supply and demand.
• B)Like any cartel,a union is a group of sellers acting together in the hope of exerting their joint market power.
• C)The process by which unions and firms agree on the terms of employment is called a strike.
• D)Most workers in the U.S.economy are not members of a union.

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Definitions:

Power Distance

A cultural dimension that describes the extent to which less powerful members of institutions and organizations within a country expect and accept that power is distributed unequally.

Organizations

Structured groups of people working together to achieve common goals.

Unequally Distributed

The condition in which resources, power, or opportunities are not shared equitably among all parties or individuals involved.

Uncertainty-avoidance Cultures

Cultures that have a low tolerance for ambiguity and uncertainty, often favoring strict rules and conventions to minimize the unpredictability of social interactions.