Suppose the level of unionization of American workers increases which leads to higher pay, would...
Question:
Suppose the level of unionization of American workers increases which leads to higher pay, would that shift the aggregate demand curve or aggregate supply curve or both?
Unionization of Workers:
Unions exist to restrict the supply of workers to a firm or groups of firms in order to raise wages. In general, wages in unionized markets are higher than wages in non-unionized markets.
Answer and Explanation: 1
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View this answerAn increase in unionization would likely to lead to shifts in both curves. First of all, more unionization means higher wages which means higher...
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Why Do Workers Join Unions? - Benefits & Reasons
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Chapter 1 / Lesson 6
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A union is a group of workers that have a common goal for the good and benefit of the workers. Understand the reasons why workers join unions and find out the benefits and challenges encountered by trade unions.
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