Some economists argue that unions raise prices and cause unemployment by bargaining for higher wages than would otherwise be the case. Other economists argue that this is not true. Who is right and why?

What happens when a firm does not agree to the wages the employees of a union demand? Select the correct answer below: Nothing. The union workers do not have the ability to negotiate the salary. Union workers can go on strike demanding higher wages. Nothing. The union wages are based on a contract so they can't negotiate higher wages. The firm does not have the option to disagree, it must meet the wage demands of the union.

Economics

Oberlin, Ohio is a small town in Ohio home to Oberlin College. Oberlin College employs more than half of people in the town. What market structure best applies to the market for workers in Oberlin? Why?

what are the five main things you would do to recruit and retain a more diverse workforce?

How will automation affect the job market over the next decade?

Has labor benefited from or been hurt by unionization, improvements in technology and globalization?

What economic factors influence the success or failure of labor strikes, and how do these factors impact both workers and employers?

Certain industries of the U.S. economy, such as farming and heavy equipment manufacturing, have experienced a significant decline in employment. Which statement best explains this job loss? Multiple Choice Workers lost these jobs because technological advances increased productivity. Government regulations have eliminated profit opportunities in these industries. The U.S. economy cannot compete in these industries any longer. The cause is a decline in the productivity of labor in these industries.

Maria is an industrial engineer at a Nissan plant. Using the interdependence principle, explain why and how she should change production plans if one of her engine suppliers cuts the price they charge Nissan by 50%. What about if workers unionize and demand a 12% across-the-board pay raise?