Asked by Teniqua Westry on Jul 25, 2024
Verified
There is no evidence that unions are able to increase wage rates above those that the market would otherwise provide.
Wage Rates
The monetary compensation paid to workers per unit of time or output, often standardized by industry, skill level, or geographical location.
- Assess the impact of unions on wage rates.
Verified Answer
AK
Aneesh KurianJul 27, 2024
Final Answer :
False
Explanation :
There is evidence that unions are able to negotiate higher wage rates and benefits for their members than non-union workers in the same industries or occupations. Numerous studies have shown that unionized workers earn higher wages and are more likely to receive benefits such as health insurance, retirement plans, and paid leave than non-union workers. However, it is also true that unions may not always be able to increase wages above what the market would provide, especially in industries or regions where there is little competition or where the labor supply exceeds demand.
Learning Objectives
- Assess the impact of unions on wage rates.
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