When a Union Is Present in a Labor Market, Wages

question 145

True/False

When a union is present in a labor market, wages are not determined by the equilibrium of supply and demand.

---

Definitions:

Adrenal Cortex

Outer portion of adrenal gland; secretes the hormones aldosterone and cortisol.

Pancreas

An organ in vertebrates, including humans, involved in the digestion process and insulin production.

Endocrine System

Organ system that coordinates responses among cells of an animal body by means of hormones.

Nervous

Related to the nervous system, involving nerve cells and tissues in transmitting impulses between parts of the body.