Discuss the benefits of unions
What will be an ideal response?
Some economists argue that unions probably raise social efficiency by increasing productivity. They also reduce wage inequality, reduce profits, and increase stability in the labor force by providing arbitration proceedings and grievance procedures. They also argue unions provide a political voice for union members, and that unions have effectively promoted general social legislation.
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A defined benefit pension plan is designed to retain a worker at the same firm for his or her career
Indicate whether the statement is true or false
If marginal revenue exceeds marginal cost in the short run, the perfectly competitive firm earns an economic profit in the short-run
a. True b. False Indicate whether the statement is true or false