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Exam 31: Labor Unions

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Question 41

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The exercise of union power will tend to

A) Reduce the supply of labor available to nonunion industries.
B) Cause profits to be higher in unionized industries.
C) Increase the supply of labor available to nonunion industries.

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Question 42

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If 10 workers will be hired by a firm at a wage rate of $15 per hour,but the 11^th worker will be hired only if the wage rate falls to $14 per hour,then the marginal wage of the 11^th worker is

A) $4 per hour.
B) $14 per hour.
C) $154 per hour.

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Question 43

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What is a union shop,and what is its purpose?

Suppose a union collects dues at 1 percent of the total wage bill.Maximum dues (and maximum total labor cost) would be achieved by hiring the amount of labor where

The unionized percentage of the labor force in the United States has been increasing steadily since the 1950s.

Unlike most monopolies,unions do not attempt to use their market power to raise the equilibrium wage above its competitive level.

In a monopoly labor market,the optimal union wage can be read off the marginal revenue product curve.

The difference between craft unions and industrial unions is that industrial unions usually

A union should calculate the marginal wage to determine how additional labor will change the average wage.

The desired level of union employment occurs where the market wage curve intersects the labor supply curve.

The equilibrium wage rate is determined by

Workers who organize themselves along industry lines are represented by

When a strike or a lockout occurs,

The In the News article titled "The GM-UAW Deal" states,"After months of negotiations and a 41-hour strike,GM and the UAW signed a new four-year contract in September 2007." The contract included job guarantees and back-to-work bonuses,but the primary objective of unions is to

Unions do not need to worry about the effects of greater employment numbers on the wage rate.

Typical goals of a labor union in the United States include

Refer to Figure 31.3 for a competitive labor market. A shift in labor supply from S₁ to S₂ could be caused by:.

In order to increase their power,unions have been merging across craft and industry lines.

-Table 31.1 shows the number of workers a firm is willing to hire per hour at different wage rates.Complete the table by computing the total wage bill (total labor cost) and the marginal wage.Which of the following wages,in Table 31.1,would allow the most workers to be hired?

The collective bargaining process can result in a wage below the supply curve of labor.