Which of the Following Is Not Correct

question 34

Multiple Choice

Which of the following is not correct?

• A)When a union is present in a labor market,wages may not be 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)When unions raise wages above equilibrium,the quantity of labor supplied decreases,and the quantity of labor demanded increases.
• D)Most workers in the U.S.economy are not members of a union.

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Definitions:

Insight

The ability to understand the inner nature of things or to see intuitively.

Incubation

A period of development or gestation, either literally in the context of eggs or metaphorically in the context of ideas or diseases developing over time.

Creative Problem Solutions

Innovative and effective methods for solving problems, often involving thinking outside the conventional parameters.

Incubation

In problem-solving and creativity research, the process during which an unconscious recombination of thought processes occurs, potentially leading to a solution after a period of rest or distraction from the problem.