Econ 205 Final Exam Review (Test 3) Questions and Answers 2023 Grade A+
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If a firm can only hire union members they are considered: - -A closed shop -Union work rules designed for increase the number of workers required to perform a job even though they may not be heade... d, refers to: - -featherbedding -If a firm can only hire union workers or non-union workers and no one is required to join the union they are considered - -Right to work states -Negotiations between workers and management regarding labor contracts is called: - -Collective bargaining -The demand for labor will increase if: - -the price of a substitute input increases. -Minimum wage laws under perfect competition in the labor market, will: - -decrease the number of workers a firm will hire. -Transfer programs that are funded out of a general tax revenues are called: - -Public assistance problems -The derived demand model suggests that unions increase wages through: - -increasing demand for the products the workers are producing. -The membership restriction model suggests that union increase wages: - -decreasing the number of union members. [Show More]
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