Which of the Following Is Correct

question 5

Multiple Choice

Which of the following is correct?

• A)In unionized industries,wages are above the level that would prevail in competitive markets.
• B)The introduction of a union in some industry reduces the quantity of labor demanded in that industry,causes some workers in that industry to be unemployed,and reduces wages in the rest of the economy.
• C)Critics argue that the allocation of labor resulting from unions is both inefficient and inequitable.
• D)All of the above are correct.

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Definitions:

Good or Bad

Terms describing the positive or negative judgement or quality of an action, decision, or outcome within an organizational or general context.

Hierarchy of Values

A ranked system of personal or societal principles and beliefs determining what is most important to an individual or community.

Preferences Differ

Preferences differ highlights the individual variations in choices, likes, or dislikes among people based on their personal experiences, values, or cultural backgrounds.

Values

Fundamental beliefs or ideals that guide an individual's behavior and decision-making within both personal and professional contexts.