A) groups of workers in an individual trade.
B) all the workers in a firm such as General Motors.
C) firms that employ similar labor skills.
D) an organization that controls the labor market in a particular industry.
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A) National Labor Relations Act.
B) Taft-Hartley Act.
C) Landrum-Griffin Act.
D) Knights of Labor Act.
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A) an industrial union.
B) a craft union.
C) skilled workers union.
D) auxiliary union.
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A) permitted unions to engage in collective bargaining.
B) permitted states to pass right-to-work laws.
C) restricted activities of heads of unions that were not beneficial to union members.
D) mandates compulsory arbitration in some key industries.
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A) aerospace workers unions.
B) industrial unions.
C) craft unions.
D) depression unions.
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A) organized labor's heyday occurred from the 1940s through the 1970s.
B) part of the explanation for the decline in union membership has to do with the shift away from manufacturing.
C) the deregulation of certain industries has also contributed to a decline in unionism.
D) recent labor laws have diminished worker's rights.
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A) The higher wages attract more workers leading to a shortage of jobs.
B) Management may replace part of the workforce with machinery.
C) To handle the surplus of labor the union will form a closed shop.
D) The union may shift the supply of labor curve by developing methods to ration jobs.
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A) there will be downward pressure on the wage rate until equilibrium is established.
B) right-to-work laws become effective.
C) there is a shortage of jobs.
D) there is excess demand for labor.
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A) union shops illegal.
B) closed shops illegal.
C) sympathy strikes legal.
D) secondary boycotts legal.
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A) a worker may elect to either join or not join the union.
B) only workers who have been union members for two years may be employed.
C) only union members may be employed by the firm.
D) a non-union worker may be hired but must join the union within a certain time period.
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A) It restricts its output to keep the product price high.
B) It hires less labor but pays the perfectly competitive wage rate.
C) It must pay different amounts to each unit of labor hired.
D) It hires less labor and pays a lower wage rate than in the perfectly competitive case.
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A) closed shop.
B) union shop.
C) open shop.
D) restricted shop.
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Refer to the above figure. Under perfec...View Answer
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Refer to the above figure. Under perfec...View Answer
A) 5
B) 6
C) 7
D) 8
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A) marginal revenue product is zero.
B) marginal revenue product equals marginal factor cost.
C) marginal factor cost is zero.
D) total cost equals total revenue.
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Monopsony is the situation when there is...View Answer
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A) a craft union.
B) an industrial union.
C) a guild.
D) closed shop union.
E) none of the above
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A) The economy has shifted away from manufacturing.
B) The AFL-CIO merger and creation of the Change to Win Federation reduced competition among unions.
C) Some industries have been deregulated.
D) Labor force participation by women has increased.
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A) 
B) 
C) 
D) 
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A) 1; $10
B) 2; $15
C) 3; $20
D) 4; $25
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