D) Minimum wages are normally set above the labor market clearing wage rate. D Contract negotiations between an employer and a labor union representing workers are referred to as:
Employers in highly competitive markets are more able to raise prices without loss of revenues. False A manager of a company could be a factor affecting the company's external competitiveness. True OTHER SETS BY THIS CREATOR
B) The larger the gap between the current market wage and the market clearing wage, greater will be the amount of unemployment. C) At wage rates above the market clearing wage rate, there is an excess demand for workers.
Flatcake, a website that allows buyers to negotiate the prices with the sellers of handmade goods The three factors usually used to determine the relevant labor markets are the occupation, geography, and competitors. True Wages in labor-intensive industries are generally higher than in technology-intensive industries.
A) to wages that are lower than what workers would have received at equilibrium.
C) A higher wage can raise profits if productivity of workers is fixed.
The three factors usually used to determine the relevant labor markets are the occupation, geography, and competitors.
Human capital theory assumes that people are paid at the value of their marginal product.
Research shows that a lead pay strategy reduces turnover.