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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

How could a collectively bargained higher wage rate in the unionized sector of the economy lead to a lower wage rate in the nonunionized sector of the economy?

To determine

Explain the differences between the wage rates in the unionized sector and in the nonunionized sector.

Explanation

The collective bargaining of the union members increases the wage rate in a unionized sector. As wages increase, the demand for labor will reduce. As a result, an economy will face the excess supply of labor. In such a situation, the excess labor force will move from unionized sector to nonunionized sector...

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