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31 Oct 2020

7. Which of the following condition is most likely to lead to a rise in union bargaining power?

a. Increase in the percentage of the workforce in the union.

b. Increased competition in the product market.

c. Relatively high elasticity of demand for labor

d. Monopoly in the labor market.

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Microeconomics
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Explaining the concept of Labor union
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Raushan Raj
Raushan RajLv8
31 Oct 2020

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Related questions

1. The percentage of the labor force that belongs to a union is known as the:

a) Union share ratio.

b) Unionization ratio.

c) Union participation ratio.

d) Unionized percentage ratio.

2. The equilibrium wage rate is determined by:

a) Individuals but not firms.

b) Market labor supply and market labor demand.

c) Labor unions.

d) Firms but not individuals.

3. The effect of union exclusion of non-union workers is to:

a) Increase the shortages of non-union workers.

b) Reduce the wages of non-union workers.

c) Increase the number of jobs for non-union workers.

d) Increase the surplus of union workers.

4. A market with one buyer and one seller is a:

a) Bilateral monopsony.

b) Multiopoly.

c) Bilateral monopoly.

d) Multilayer monopoly.

14. When there is market power on both sides of the labor market, in other words, when a union meets a monopsony? Economists call such a situation a

a. monopoly

b. bilateral monopoly

c. labor market oligopoly

d. labor market competitiveness

Question 1 (1 point) Right-to-work laws in individual states:

make it illegal to require union membership as a condition for continued employment.

were allowed by the Taft-Hartley Act of 1947.

make it illegal to run a "closed shop" in that state.

all of the above.

Question 2 (1 point) In the figure to the right, the wage rate that maximizes the total union member income earned is:

W2.

W1.

W3.

uncertain without more information.

Question 4 (1 point) An example of featherbedding would be:

a union trying to increase worker productivity.

a union trying to increase demand for union labor.

a union trying to increase demand for union-made products.

an act banned by the Taft-Hartley Act.

Question 5 (1 point) The Taft-Hartley Act of 1947 (the Labor Management Relations Act):

is the key legislative act that requires management to bargain with unions.

made certain union practices such as closed-shops illegal.

is the key legislative act that permits unions to organize and to strike.

is perceived by union leaders as the most important legislation enabling unions to improve the wages of their members.

Question 8 (1 point) In order to raise wages above the market level for its workers, a union must:

have monopsony power.

recruit better workers.

have the support of the government.

limit the supply of labor in an industry.

Question 9 (1 point) What are the effects of labor unions on wages and productivity?

Wages are lower for union members than non-union members because union dues are so high.

Productivity increases because the marginal factor cost is equated to the marginal revenue product of labor.

Wages are the same for union members and non-union members.

Productivity does not increase or decrease as the result of unions.

Wages are higher for union members than non-union members.

Productivity may decrease because of the way some collective bargaining rules specify how jobs should be done or productivity may increase due to reduced turnover.

Productivity increases due to reduced turnover or because of the way some collective bargaining rules specify how jobs should be done.

Question 10 (1 point) Under bilateral monopoly, the wage rate is:

indeterminate.

higher than the competitive wage rate.

equal to the competitive wage rate.

lower than the competitive wage rate.

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