Under conditions of imperfect competition in the labor market, union efforts to increase wages:
A. Will necessarily cause unemployment
B. Will necessarily reduce unemployment
C. Will strengthen the monopoly power of management
D. May either increase or decrease the level of employment
D. May either increase or decrease the level of employment
You might also like to view...
For a monopolist that is maximizing profits
A) price exceeds marginal cost. B) price equals marginal revenue. C) price equals average total cost. D) marginal revenue exceeds price.
John Maynard Keynes's central proposition that a dollar increase in disposable income would increase consumption, but by less than the increase in disposable income, means the marginal propensity to consume (MPC) is:
a. greater than or equal to one. b. equal to one. c. less than one, but greater than zero. d. negative.