Ask Question
BusinessBusiness
14 May, 14:32

When a union raises the wage above the equilibrium level, a. the quantity of labor supplied falls and unemployment rises. b. both the quantity of labor supplied and unemployment rise. c. both the quantity of labor supplied and unemployment fall. d. the quantity of labor supplied rises and unemployment falls.

+2
Answers (1)
  1. 14 May, 15:44
    0
    b. both the quantity of labor supplied and unemployment rise

    Explanation:

    The labor market operates under the logic of balancing labor supply and labor demand. The adjustment vector for this balance is the price of wages. When a union of unions forces wages up, naturally more workers will offer work because they see an opportunity that benefits them. However, the higher salary is a cost to firms, which have hired fewer employees and eventually fired. Therefore, both labor supply and unemployment increase.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “When a union raises the wage above the equilibrium level, a. the quantity of labor supplied falls and unemployment rises. b. both the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Broom Corporation transfers assets with an adjusted basis of $300,000 and an FMV of $400,000 to Docker Corporation in exchange for $400,000 of Docker Corporation stock as part of a taxminusfree reorganization.
Answers (2)
Miles is floating happily on a rubber raft in his swimming pool in new jersey when the raft busts and cuts his eye. his doctor says he will need corrective surgery and may never fully regain his eyesight in the damaged eye.
Answers (1)
Icu window, inc., is trying to determine its cost of debt. the firm has a debt issue outstanding with ten years to maturity that is quoted at 113.5 percent of face value. the issue makes semiannual payments and has an embedded cost of 9.
Answers (1)
Just For Me is a line of hair care products for pre-teenage girls, that is, girls between the ages of eight and twelve.
Answers (1)
Marciano Manufacturing uses a standard cost system. Standards for direct materials are as follows: Direct materials (pounds per unit of output) 3 Cost per pound of direct materials $ 6 The company plans to produce 2 comma 000 units and has purchased
Answers (1)
New Questions in Business
What is a disadvantage of government bonds? a) they have a high intrest rate b) They are difficult to find c) They are relatively risk-free d) all of the above
Answers (1)
The Sedgwick Company estimates sales of a new product at 5,000 units and $3.00 per unit. Management feels the sales quantity is accurate within a 10 percent plus-or-minus range while the sales price is accurate within a 5 percent plus-or-minus range.
Answers (1)
The actual cost of direct labor per hour is $ 11.00 and the standard cost of direct labor per hour is $ 9.50. The direct labor hours allowed per finished unit is 0.25 hour.
Answers (1)
A large oil company is studying the number of gallons of gasoline purchased per customer at self-service pumps. The mean number of gallons is 10.0, with a standard deviation of 3.0 gallons. The median is 10.75 gallons.
Answers (1)
Eighty percent of your business comes from 20% of your Question 7 options: effort. personal referrals. years in business. customers.
Answers (2)
Home » Business » When a union raises the wage above the equilibrium level, a. the quantity of labor supplied falls and unemployment rises. b. both the quantity of labor supplied and unemployment rise. c. both the quantity of labor supplied and unemployment fall. d.
Sign Up Forgot Password?