Collective bargaining by unions can result in a union wage rate that is ________ the equilibrium real wage rate and creates a ________ of labor
A) below; shortage
B) above; shortage
C) below; surplus
D) above; surplus
E) equal to; surplus
D
Economics
You might also like to view...
The demand curve for a monopoly firm
A) is perfectly inelastic. B) lies below its marginal revenue curve. C) is the same as the market demand curve. D) is horizontal.
Economics
Refer to the graph below. Assume that the economy is initially at full-employment equilibrium at point A. If AD increases, then the long run equilibrium point will be at point:
A. A
B. B
C. C
D. D
Economics