Excess supply in terms of union labor means: Select the correct answer below: Firms will want to hire more union workers than the union can accommodate. There is an excess supply of workers who want union jobs, but firms will not be hiring for such jobs. The firm is able to produce more products. The supply of jobs is not impacted, only wages.

Excess supply in terms of union labor means: Select the correct answer below: Firms will want to hire more union workers than the union can accommodate. There is an excess supply of workers who want union jobs, but firms will not be hiring for such jobs. The firm is able to produce more products. The supply of jobs is not impacted, only wages.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter27: Wages, Unions, And Labor

Section: Chapter Questions

Problem 3QP

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Similar questions

In the following table, identify which side of the labor market is affected by labor unions' practices. Practice by Labor Union Union supports legislation that reduces imports of the product produced by union labor. Union organizes training programs for new entrants. Union requires new hires to become a member within a certain time after being employed. The Demand for Union Labor The Supply for Union Labor
In the following table, identify which side of the labor market is affected by labor unions' practices. Practice by Labor Union Union supports legislation that increases the price of imports of the product produced by union labor. Union lobbies for an increase in the minimum wage. Union imposes rigid certification requirements for all employees. The Demand for Union Labor The Supply for Union Labor
What happens when a firm does not agree to the wages the employees of a union demand? Select the correct answer below: Nothing. The union workers do not have the ability to negotiate the salary. Union workers can go on strike demanding higher wages. Nothing. The union wages are based on a contract so they can't negotiate higher wages. The firm does not have the option to disagree, it must meet the wage demands of the union.
Which of the following describes the effect of the changes in the manufacturing labor market on the market for service workers, which is not unionized? Check all that apply. The wage of service workers will fall. The supply of service workers will remain unchanged. The demand for service workers will remain unchanged. There will be an increase in employment in the service sector.
Unionized workers tend to have lower job satisfaction than nonunionized workers primarily because: They are more likely to be victims of discrimination than nonunionized workers They are working under harsher conditions and their workplace climate is less desirable They are dissatisfied with their union representation They are receiving fewer benefits such as workers compensation and unemployment insurance
true or false Labor unions are organized primarily to help women who are expecting to go into labor while on the job.
The labor supply curve is upward sloping because workers are willing to work more hours at higher wages. workers will work as many hours as possible no matter the wage. employers will reduce the hours they employ as the wage rises. employers will hire a specific quantity of labor no matter the wage.
True or False? Union wages are similar to those in a perfectly competitive market. The wage is determined by the going rate for the position.
6. Contrasting labor union laws in two states Consider two hypothetical states that operate under different laws governing labor unions. The following graph shows the labor market in a state in the West. Initially, the market-clearing wage in this state is $8.00 per hour. Now, suppose that the General Assembly in this western state passes a law that makes it easier for workers to join a union. Through collective bargaining, the union negotiates an hourly wage of $10.00. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. WAGE (Dollars per hour) 16 14 12 10 8 4 2 Supply Demand Graph Input Tool Market for Labor Wage (Dollars per hour) Labor Demanded (Thousands of workers) 2.00 1,400 Labor Supplied (Thousands of workers) ? 200
Question 26 of 30 Consider the labor market for electricians. The demand curve is downward sloping and the supply curve is upward sloping. In this market, however, there is a strong labor union. Assume that the electrician's union is able to negotiate a new contract that substantially raises their member's wages. Select the correct statement. Fewer people want to work as electricians as the union increases wage. Firms hire the same number of electricians at both wages. The wage increase is unambiguously beneficial for all the electricians working before the wage increase. O A consequer of the union negotiating a higher wage is fewer jobs for electricians. 8:25 PM 46°F 12/15/2021 a
Touch upon the idea of how labor unions advocate and defend minimum wage legislation. Research and state whether you believe this to be true or false, defend your position.
Question 14 Unions deploy all the following tactics to exert their influence in the labor market EXCEPT: restricting labor supply. restricting wages. collective bargaining. lobbying.