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Question 8 Joe belongs to a union for bakers. This is an exa

Paper help Economics Question 8 Joe belongs to a union for bakers. This is an exa

Economics

Question 8 Joe belongs to a union for bakers. This is an exa

Question 8 Joe belongs to a union for bakers. This is an example of a Question 8 options: … Show more Question 8 Joe belongs to a union for bakers. This is an example of a Question 8 options: union shop. bilateral monopoly. closed shop. craft union. Question 9 A primary objective of labor unions is to Question 9 options: secure equal pay for its members. seek better pay and improved work conditions. have equal power with their employer. all of the above none of the above Question 10 Sometimes unions can raise wages above what productivity increases would permit. When this happens, we can be sure that Question 10 options: featherbedding will occur. there is a redistribution of income from union workers to nonunion workers. the employment of union workers is increasing. some union workers end up losing their jobs. Question 11 Refer the above figure. Suppose the union sets the wage rate that will maximize the total income for the members who work. The total wages will be Question 11 options: W1iL4O. W2aL3O. W3bL2O. W3bhW1. Question 12 Refer to the above table. What does the marginal factor cost equal when the firm employs the second unit of labor? Question 12 options: 19 36 38 21 Question 13 The Taft-Hartley Act of 1947 made Question 13 options: closed shops illegal. sympathy strikes legal. union shops illegal. secondary boycotts legal. Question 14 Refer to the above figure. If the union wants to maximize the total income of its members who work, it will set wages at Question 14 options: W1. W2. W3. W4. Question 15 Bilateral monopoly exists when Question 15 options: a firm is both a monopolist in its output market and a monopsonist in the input market. there is a monopoly and a monopsony in a market. there are two competing labor unions in a labor market. there is either a monopoly or a monopsony in the market. Question 16 An example of featherbedding is Question 16 options: advertising that encourages consumers to buy union-made goods. the requirement that all construction workers who work on a government-financed project receive the union wage rate regardless if they are in the union or not. union requirements that forbid the use of certain laborsaving equipment. lobbying Congress to get higher tariffs. Question 17 Suppose a union successfully negotiates a wage rate for its members that is above the competitive wage rate. Then, Question 17 options: the union must also negotiate a fringe-benefit package that the membership will like. employment in the union sector will increase. the union must find a way to ration jobs among the excessive number of workers who wish to work at the negotiated wage. the union must find a way to make union workers more productive. • Show less

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