There Is a Clear Consensus Among Economists That Unions Are

question 25

Multiple Choice

There is a clear consensus among economists that unions are

• A)good for the economy because they result in higher wages for most workers.
• B)good for the economy because they are a necessary antidote to the market power of employers.
• C)bad for the economy because they are cartels and therefore detrimental to an efficient allocation of resources.
• D)None of the above is correct;there is no clear consensus among economists about whether unions are good or bad for the economy.

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Definitions:

Wages of Supervisors

Compensation paid to individuals who oversee and manage the work of others within an organization.

Bottlers

Companies or individuals engaged in the process of packaging beverages, most commonly soft drinks or alcoholic beverages, for distribution and sale.

Manufacturing Costs

Costs directly associated with the manufacture of products, encompassing raw materials, labor, and manufacturing overhead expenses.

Direct Materials

Raw materials used in the production process that are directly attributable to the product being manufactured.