Which of the following is not correct?
A)When a union is present in a labor market,wages are determined by the equilibrium of supply and demand.
B)Like any cartel,a union is a group of sellers acting together in the hope of exerting their joint market power.
C)The process by which unions and firms agree on the terms of employment is called collective bargaining.
D)Most workers in the U.S.economy are not members of a union.

Question

Quizplus · Accepted Answer

The presence of a union in a labor market can influence the wage rate through collective bargaining and negotiations with employers, which may lead to wages being above or below the equilibrium level determined by supply and demand.

Which of the Following Is Not Correct