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1. If a union enters a wage claim that exceeds the equilibrium wage, then we would...

1. If a union enters a wage claim that exceeds the equilibrium wage, then we would expect a __________ of labor and __________ employment.

A. surplus; increasing

B. surplus; decreasing

C. shortage; increasing

D. shortage; decreasing

2. In a competitive labor market, if a union wishes to maximize employment for members, how should it negotiate a wage rate?

A. Above the competitively established rate

B. At the competitively established rate

C. Below the competitively established rate

D. That discriminates against non-members

3. Unions help the firms do which of the following?

A. Boost worker morale

B. Keep the unions from getting the highest possible wages

C. Encourage the firms start to hire non-union workers

D. Have unions try to reduce membership

4. If the demand curve for labor is inelastic at the current wage rate, a wage increase would result in which of the following?

A. Supplying additional benefits to all members

B. Workers working additional hours

C. Some workers losing their jobs as the employer moves up and to the left on the curve

D. Workers supplying more labor

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