A) generates more profits than a firm beset by union strikes. B) is less under o

Question

A) generates more profits than a firm beset by union strikes. B) is less under organized labor's control than a union shop. c) can only hire workers who are already union members. D) hires only nonunion workers. 19. A firm that operates a closed shop 20. The primary purpose of labor unions is to sive individuals greater bargaining power with employers. C) A) strike. B) change our economic system. D) provide workers with political power 21. In a union shop A) no one is forced to join the union. B) C) an employer may hire only union members. all employees must join the union, usually within 30 days after they are hired. Today a male college graduate earns school graduate. A) 25 B) 46 C) 62 D) 86 22. percent more than a male high E) 108 23. Te minimum wage is a price that tends to- -the employment of unskilled workers. A) ceiling, decrease B) ceiling, increase C) floor, decrease D) floor, increase 24. The backward-bending labor supply curve includes each of these variables except A) the income effect. B) the substitution effect C) the savings effect

Explanation / Answer

19. C) can only hire workers who are already union members.

20. B) give individuals greater bargaining power with employers.

21. B) an employer may hire only union members.

23. C) Floor; decrease

Minimum wage is set above the equilibrium price so demand of labor decreases while supply increases which leads to decrease in the employment of labor.

24. C) Savings effect

Income and substitution effect are the part of backward bending labor supply curve.

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