Exhibit 28-1 wage Rate 0, Quantity of Labor(Workers) 31. Refer to Exhibit 28-1.

Question

Exhibit 28-1 wage Rate 0, Quantity of Labor(Workers) 31. Refer to Exhibit 28-1. Four demand curves for labor are displayed: D, D D, and D. Which provides the most pronounced wage-employment tradeof? a. b. c. D d. D 32. Sometimes labor unions try to increase the demand for the product they produce. They do so because the demand for labor is derived; and the the demand for the product labor produces, the labor and the- -wages will be, ceteris paribus higher; greater the supply of; lower higher, lower the demand for; higher higher; higher the demand for; higher lower, higher the demand for; higher a. b. c. d. 33. A closed shop is an organization a. b. c. that is closed on holidays. in which an employee must belong to the union before he or she can work. that does not require workers to be union members in order to be hired, but does require them to join the union within a certain period of time after becoming employed. set up by the federal government to train ex-convicts to become productive workers. none of the above d. e. 34. In collective bargaining, a. b. c. d. e. union members act together as a single unit. each union member represents herself in labor-management negotiations. the objective of the union is to increase its bargaining power with management. a and c b and c

Explanation / Answer

31. The right answer is d. D4

Explanation: Wage-employment trade-off takes place when workers supply fewer labor hours with an increase in wages. This happens because of a higher wage rate, workers can achieve a particular income level by working less hour. The four lines showed the graph is labor supply curves. The flatter is the line the more responsive is the labor supply due to price change. The D4 labor supply curve is the flatest and the fall in labor hours due to increase in wage is most prominent here.

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