Which of the Following Is Correct

question 147

Multiple Choice

Which of the following is correct?

• A)Nearly all economists believe that unions are bad for the economy as a whole.
• B)Unionized firms pay wages above the competitive equilibrium level.
• C)Unions increase the level of employment in unionized firms.
• D)Unions decrease the level of employment in firms without unions.

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Definitions:

Psychosocial Development

The development of the personality and the acquisition of social attitudes and skills from infancy through maturity.

Erikson

A psychosocial development theorist known for his 8-stage theory of human development.

Initiative Versus Guilt

Erikson’s third psychosocial stage in which young children develop a sense of purposefulness, try new skills and activities, and take pride in their accomplishments, as well as feel guilt if they are unsuccessful.

Economic Labor

The work performed by individuals that contributes to the production of goods and services in an economy.