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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Would you expect the presence of labor unions to lead to higher or lower pay for worker-members? Would you expect a higher or lower quantity of workers hired by those employers? Explain briefly.

To determine

Whether the presence of union would lead to higher or lower pay for worker members and whether the firm would employ high or low quantity of workers is to be determined.

Explanation

As per the statistics, the unionized workers earn 20% higher wages than non-unionized workers in the USA. So, the presence of unions would lead to higher pay for union workers. Also, the share of workers who belong to labor union is decreasing from the last 50 years...

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