C be established at the level desired by the employer

Info iconThis preview shows pages 15–18. Sign up to view the full content.

View Full Document Right Arrow Icon
C. be established at the level desired by the employer. D. always be established at the competitive level. 115.If a single large employer bargains with an inclusive union, the resulting labor market model can best be described as: A. a cartel. B. countervailing power. C. a bilateral monopoly. D. an internal labor market. 116.Bilateral monopoly occurs where: A. a monopsonistic employer bargains with an inclusive union. B. a monopsonistic employer bargains with an exclusive union. C. a craft union bargains with a purely competitive employer. D. an industrial union bargains with a purely competitive employer.
Background image of page 15

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
117.Refer to the above labor market diagrams. A monopsonistic labor market is represented by Figure: A. 5. B. 4. C. 3. D. 2. 118.Refer to the above labor market diagrams. The tactics of exclusive unionism are portrayed in Figure: A. 4. B. 3. C. 2. D. 1. 119.Refer to the above labor market diagrams. The tactics of inclusive unionism are shown in Figure(s): A. 5 only. B. 3 only. C. 4 and 5. D. 1 and 2. 120.Refer to the above labor market diagrams. The case of bilateral monopoly is represented by Figure: A. 5. B. 4. C. 2. D. 1. 121.Refer to the above labor market diagrams. The economic impact of occupational licensing can best be demonstrated through Figure: A. 4. B. 3. C. 2. D. 1.
Background image of page 16
122.Refer to the above labor market diagram where D is the labor demand curve, S is the labor supply curve, and MRC is the marginal resource (labor) cost curve. If this were a purely competitive labor market, the equilibrium wage rate and level of employment would be: A. $5 and 3 respectively. B. $6 and 4 respectively. C. $7 and 5 respectively. D. $8 and 3 respectively. 123.Refer to the above labor market diagram where D is the labor demand curve, S is the labor supply curve, and MRC is the marginal resource (labor) cost curve. If this were a monopsonistic labor market, the equilibrium wage rate and level of employment would be: A. $5 and 3 respectively. B. $6 and 4 respectively. C. $7 and 5 respectively. D. $8 and 3 respectively. 124.Refer to the above labor market diagram where D is the labor demand curve, S is the labor supply curve, and MRC is the marginal resource (labor) cost curve. If an inclusive union was formed and was able to get the monopsonist to agree to a $7 wage rate, then the monopsonist would: A. reduce employment from 5 to 3 workers. B. reduce employment from 5 to 2 workers. C. increase employment from 3 to 5 workers. D. not alter its level of employment. 125.Refer to the above labor market diagram where D is the labor demand curve, S is the labor supply curve, and MRC is the marginal resource (labor) cost curve. If an inclusive union was able to get the monopsonist to pay a $6 wage rate, then: A. the supply curve would be perfectly elastic for the first four workers, but the MRC curve would be unaffected.
Background image of page 17

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 18
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page15 / 81

C be established at the level desired by the employer D...

This preview shows document pages 15 - 18. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online