An Increase in the Equilibrium Price and a Decrease in the Equilibrium

question 208

Multiple Choice

An increase in the equilibrium price and a decrease in the equilibrium quantity can be the result of

• A) a decrease in demand.
• B) an increase in supply.
• C) a decrease in supply.
• D) an increase in demand.
• E) None of the above is correct.

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Definitions:

Decertify

The process through which a union is officially stripped of its status as the representative of a group of workers, often following a vote among the workers themselves.

NLRB

Stands for the National Labor Relations Board, a federal agency in the United States that enforces labor laws in relation to collective bargaining and unfair labor practices.

Decertification Election

A voting process in which employees can remove union representation from their workplace.

Authorization Cards

Authorization cards are signed by employees to indicate their desire for a labor union to represent them; these cards can trigger a formal representation election if a sufficient percentage of workers sign.