How do unions affect the natural rate ofunemployment?

If there is inelastic demand for your labor, how does that influence individual (or union) "bargaining power"?

Describe the two basic strategies of unions in increasing wage rates for their members.

Describe the construction of the firm’s demand curve for labour in the short run.Describe the relationship between the firm's demand curve for labour in the short-run andthe market demand curve for labour in the short-run. In particular, is one curve likely to bemore or less elastic than the other? Explain your answer.

Look at the diagram below. Let's assume that aggregate demand declines and a recession occurs, which causes a decrease in the demand for labor. Assuming prices, wages and salaries are sticky, then what is the total excess labor? Salary $45,000 $25,000 5000 11000 19000 Labor S D₁ Do

Explain why monopsony gives rise to union development in labor markets.

List and explain five reasons why the role of unions are becoming more important now than prior to the COVID-19 pandemic

What percentage of wage and salary workers are union members? Is this percentage higher, or is it lower, than in previous decades? Which of the factors explaining the trend do you think is most dominant?

What is the principle strategy of an inclusive (industrial) union in order to increase the wages of its members?

How can both the union and the firm be better off by bargaining over the wage rate and employment rather than just the wage rate?