annabeasley10 annabeasley10

19-07-2022
Business

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8. Problems and Applications Q8

Consider an economy with two labor markets: one for manufacturing workers and one for service workers. Suppose initially that neither is unionized.
Which of the following will happen to the manufacturing labor market if manufacturing workers formed a union? Check all that apply.

The wage of manufacturing workers will rise.
The quantity of manufacturing workers demanded will fall.
The quantity of manufacturing workers supplied will rise.
There will be an increase in employment of manufacturing workers.

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luisvaschetto luisvaschetto

19-07-2022

The quantity of manufacturing workers demanded will fall, the wage of manufacturing workers will rise and the quantity of manufacturing workers supplied will rise.

What does a union among workers represent in economy?

In the macroeconomic model, a union among workers will increase the wage rate, thereby the supply of manufacturing workers will also increase.

This phenomenon is associated with a decrease in the demand and quantity of manufacturing workers.

In conclusion, the quantity of manufacturing workers demanded will fall, the wage of manufacturing workers will rise and the quantity of manufacturing workers supplied will rise if manufacturing workers formed a union.

Learn more about the macroeconomic model here:

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