Which of the following is not correct?
A)When a union is present in a labor market,wages are not 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 a strike.
D)Most workers in the U.S.economy are not members of a union.

Question

Quizplus · Accepted Answer

The process by which unions and firms agree on the terms of employment is not called a strike. It is called collective bargaining. A strike is a work stoppage initiated by unionized workers to pressure their employer to meet their demands during collective bargaining or to protest unfair labor practices.

Which of the Following Is Not Correct