Multiple Choice
If a union restricts the supply of labor but cannot change the demand for labor, the union ________ the wage rate and ________ the level of employment.
A) raises; decreases
B) raises; increases
C) lowers; decreases
D) lowers; increases
Correct Answer:

Verified
Correct Answer:
Verified
Q187: Because a monopsony must raise the wage
Q188: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The above figure
Q189: Because of the income effect, the labor
Q190: If people suddenly start to expect the
Q191: You observe that more labor is employed
Q193: If Joe receives an increase in his
Q194: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the table
Q195: If Delores wanted to make sure that
Q196: When a union faces a monopsony buyer,
Q197: As wages rise, the substitution effect induces