Which best describes one of the producers’ restrictions?
The statement that best describes one of the limitations on producers that keeps the labor market from becoming a totally free market is “Workers aren’t always available when they’re needed.” Another restriction could include labor unions, which represent the interests workers in a negotiation.
What is it called when workers intentionally reduce their productivity?
When workers stop working entirely what is it called?
When workers cease working completely, it is known as either a strike, or retirement depending on the circumstances. On the other hand, retirement is when an employee turns 65 and can retire from the job or receive a pension.
How will an increase in population affect the labor market?
How will an increase of population impact the labor market? This will change the market supply curve. If a worker can produce 20 units of output which can be sold for $4 per unit, what is the maximum wage that firm should pay to hire this worker?
Which of the following best explains what happens when workers join a labor union?
This best describes what happens to workers when they join a labor union. Workers get more bargaining power.
Which best describes a quota?
A quota is a trade restriction that a government imposes that restricts the goods a country can import and export over a specific period. To regulate trade volume between countries, quotas are used in international trade.
What are some examples of unions?
Additional Unions include:
- National Postal Mail Handlers.
- American Federation of Government Employees.
- American Nurses Association.
- International Union of Painters and Allied Trades.
- Transport Workers Union of America.
- International Alliance of Theatrical State Employees.
Which country has the strongest unions?
Labor> Trade union membership: Countries Compared