Unions often have the power to push wages above competitive levels.

Question

Quizplus · Accepted Answer

Unions negotiate with employers on behalf of their members, and can use collective bargaining to secure higher wages and benefits than what might be offered in a competitive market. This is often seen as one of the main benefits of union membership. However, critics argue that high union wages can lead to job losses or reduced competitiveness for the employers, and may not always be sustainable in the long term.

Unions Often Have the Power to Push Wages Above Competitive