Asked by
Srikanth Reddy
on Oct 12, 2024
Verified
Unions try to raise wages mainly by directing
A) the demand for labor.
B) the supply of labor.
C) both the demand for labor and the supply of labor.
D) neither the demand for labor nor the supply of labor.
Supply of Labor
Refers to the total hours that workers wish to work at a given real wage rate, across the entire economy.
Demand for Labor
The total amount of workers that employers are willing and able to hire at a given wage rate in a certain period.
- Understand the strategies labor unions employ to influence labor supply, demand, and overall workplace conditions.
Verified Answer
MP
Learning Objectives
- Understand the strategies labor unions employ to influence labor supply, demand, and overall workplace conditions.