Question 14 Not yet answered Points out of P Rag questiorn (This question refers
ID: 1166420 • Letter: Q
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Question 14 Not yet answered Points out of P Rag questiorn (This question refers to the MRU video Do Unions Raise Wages?.) A comparison of the wages of unionized electricians to the wages of non-unionized electricians reveals that: Select one: o a. unions do not necessarily raise wages for all workers. o b. unions are incapable of raising wages for any workers. O c. unions can raise wages for some workers. O d. unions raise wages for all workers. Question 15 Not yet answered P Flag question Points out of 1 (This question refers to the MRU video The Marginal Product of Labor.) If the wage falls, firms will hireworkers because Select one: o a.fewer, more workers will have a wage that exceeds the product price b. fewer: fewer workers will have a marginal product of labor that exceeds the wage 0 c more: fewer workers will have a wage that exceeds the product price d, more: more workers will have a marginal product of labor that exceeds the wageExplanation / Answer
14) d is correct
Unionised workers have higher bargaining power which allows them to get higher wages than non unionised workers.
15) d is correct
At equilibrium, real wage is equal to marginal product of labor.
Decrease in wage leads to increase in number of workers hired as marginal product of labor exceeds wage rate.
16) a is correct
Workers do not possess much skills in less developed nations which increases their supply in low skilled occupation. This puts downward pressure on wages. Also demand for low skilled workers is high in developed nations as most of the workers are skilled in developed countries.
17) c is correct
Binding minimum wage reduces demand for workers which reduces employment.
18) b is correct
Wages decreased because demand for slaves has decreased.
19) d is correct
Wages depend on skill required to do a certain job and wages depend on these skills, due to which wages differ.
20) a is correct
Marginal product of labor is an increase in revenue by hiring an additional unit of labor.
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