Asked by Talin Mirzaei on Jun 03, 2024
Verified
If an exclusive union is successful in restricting the supply of labor,the:
A) wage rate will rise.
B) quantity of labor demanded will rise.
C) number of job opportunities in the firm or industry will increase.
D) demand for labor curve will shift leftward.
Exclusive Union
A labor union that only represents workers from a particular company or industry, often having restrictive membership criteria.
Labor Supply
The total hours that workers are willing and able to work at a given wage rate in a specified time period.
- Familiarize oneself with the consequences of unions' limited labor supply and demand strategies.
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
A
Explanation :
If an exclusive union restricts the supply of labor, it creates a shortage of workers, which leads to an increase in the wage rate.
Learning Objectives
- Familiarize oneself with the consequences of unions' limited labor supply and demand strategies.