A labor union composed of workers in the same occupation is called
A) a craft union.
B) an industrial union.
C) a company union.
D) a closed shop.
A
Economics
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Entry and exit continue in monopolistic competition until the remaining firms are
A) earning an economic profit. B) incurring an economic loss. C) earning less than a normal profit. D) earning zero economic profit. E) producing the normal amount of product differentiation.
Economics
The change in total revenue that results from employing one more unit of labor is called the
A) wage rate. B) value of marginal product of labor. C) average revenue. D) marginal product of labor.
Economics