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The traditional (or orthodox) view of labor unions is that they a.positively impact produ

The traditional (or orthodox) view of labor unions is that they

a.positively impact productivity and efficiency.

b.negatively impact productivity and efficiency.

c.drive an artificial wedge between the wages of comparable labor in the union and nonunion sectors of the labor market.

d.a and c

e.b and c

 

 

 

38.Which of the following is not consistent with the view of labor unions as a collective voice?

a.Unions reduce job exiting.

b.Labor productivity declines as a result of labor unions

c.The worker turnover rate is reduced by labor unions.

d.Workers feel more secure in their jobs as a result of labor unions.

 

 

 

39.A possible objective of labor unions is

a.employment for all their members.

b.minimizing the total wage bill.

c.maximizing income for all union members.

d.all of the above

e.none of the above

 

 

 

40.To lower the elasticity of demand for labor, a labor union might attempt to

a.decrease the availability of substitutes for the products union workers produce.

b.increase the availability of substitutes for the products union workers produce.

c.increase the availability of substitute factors for union labor.

d.a and c

e.b and c

 

 

 

41.To increase the demand for union labor, a labor union might attempt to

a.increase the demand for the products produced by union labor.

b.decrease substitute factor prices.

c.decrease the marginal physical product productivity of union labor.

d.a and b

e.all of the above

 

 

 

42.To increase the wages of its members, a labor union might attempt to

a.lower the elasticity of demand for its labor.

b.increase the demand for union labor.

c.increase the supply of union labor.

d.a and b

e.all of the above

 

 

 

43.If, through collective bargaining, a union is able to raise the wage above the existing competitive equilibrium wage,

a.fewer workers will be employed than before the wage increase.

b.more workers will be employed than before the wage increase.

c.the same number of workers will be employed as before the wage increase.

d.the number of workers that will be employed is not related to the wage increase.

 

 

 

44."Collective bargaining" refers to

a.negotiations between labor unions and management about wage rates and other issues.

b.negotiations among labor unions over jurisdictional control.

c.negotiations between labor, management, and government over the drafting of labor laws.

d.b and c

e.none of the above

 

 

 

45.A firm that is the sole buyer in a factor market is known as a

a.monopolist.

b.public employee union.

c.monopsonist.

d.perfect competitor.

 

 

 

46.In a monopsony model of the labor market, as more labor is hired, the marginal factor cost of labor

a.decreases.

b.becomes zero.

c.remains constant.

d.increases.

e.becomes identical to the wage rate.

 

 

 

47.In a monopsony model of the labor market, the firm finds that (over a range) as more workers are hired, the wage rate

a.increases.

b.decreases.

c.remains constant.

d.remains identical to the marginal factor cost per worker.

e.b and d

 

 

 

48.A monopsony, as compared to a perfectly competitive firm, pays __________ wage and hires __________ labor.

a.a higher; less

b.a higher; more

c.a lower; less

d.a lower; more

e.the same; the same amount of

Dec 09 2019 Read more Less More

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