If a union successfully restricts the supply of labor to the firm but the union has no effect on the demand for labor, then the
A) wage increases and there is no change in employment.
B) wage increases and employment increases.
C) wage increases and employment decreases.
D) wage increases and there is an unambiguous effect on employment.
C
Economics
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In the long run, imports will most likely be paid for with
A) exports. B) the sale of real and financial assets. C) the extension of credit. D) higher domestic unemployment.
Economics
Which of the following is an imperfection of market economies?
A. They produce inexpensive services but expensive manufactured goods. B. They place undue importance on the needs of future generations. C. They cannot provide certain goods such as national defense. D. They distribute income too unequally.
Economics