Which of the following is true of labor unions?
a. They allow employees to participate in internal decision making.
b. They can increase the amount of labor demanded by firms.
c. They help to reduce wage differentials among co-workers
d. They can raise the wage above the market equilibrium level.
d
Economics
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A change in the price of a good has two effects on the quantity consumed. What are these effects?
A) the income effect and the substitution effect B) the consumption effect and expenditure effect C) the total utility effect and marginal utility effect D) the utility effect and the budget effect
Economics
If wages rise by 12 percent at the same time prices rise by 3 percent, then the increase in real wages is equal to
a. 12 percent. b. 9 percent. c. 6 percent. d. 3 percent.
Economics