Micro_StudyQuestions_for_Final

Unions are generally in favor of increased

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36. Unions are generally in favor of increased mechanization of the production process by the firm for which they work because: a. it will make the workers' jobs easier. b. it will eventually force the firm to pay a higher wage rate because the workers will have to be more skilled. c. it will increase the elasticity of demand for labor which in turn d. a, b, and c e. this is a trick question because unions are generally against increased mechanization. 37. A closed shop is: 38. In collective bargaining: 39. A single buyer in a factor market is known as a: 40. An electricians' union is an example of: a. an industrial union. b. a public employee union. c. a craft union. d. an employee association. e. a credit union. 41. To increase the wages of its members, a labor union might attempt to: 42. A country has an absolute advantage in the production of a good if it can:
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43. If country A can produce 40 units of good Y with a certain amount of resources and country B can produce 42 units of good Y with the same amount of resources: EXHIBIT C United States France Good X Good Y Good X Good Y 120 0 60 0 80 10 40 20 40 20 20 40 0 30 0 60
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