Asked by Shiva Kumar on May 12, 2024
Verified
Industrial unions are more likely to increase wage rates by restricting the supply of labor than are craft unions.
Industrial Unions
Labor unions that represent all types of workers within an entire industry, focusing on broad industry-level labor issues and negotiations.
Craft Unions
are labor unions that represent workers specialized in particular trades or crafts, focusing on securing favorable employment conditions and maintaining standards within their fields.
Supply of Labor
The total hours that workers in an economy are willing to work at a given wage rate.
- Recognize the role and impact of unions on wage rates, labor supply, and employment levels.
Verified Answer
SA
Sachin AgarwalMay 17, 2024
Final Answer :
False
Explanation :
Industrial unions aim to organize all workers in a particular industry, regardless of the specific job or skill level, to negotiate wages and conditions collectively. Craft unions, on the other hand, represent workers in a specific trade or craft and are more likely to increase wage rates by restricting the supply of labor through apprenticeship programs and other means to control entry into the profession.
Learning Objectives
- Recognize the role and impact of unions on wage rates, labor supply, and employment levels.