Most economists agree that trade unions reduce the overall unemployment rate in the economy.

Question

Quizplus · Accepted Answer

Most economists actually do not agree that trade unions reduce the overall unemployment rate in the economy. Some argue that unions can lead to higher wages and reduced competitiveness, which can actually increase unemployment in the long run. Others argue that unions may have some positive impact on wages and working conditions, but the overall effect on employment is unclear and may vary depending on the specific context.

Most Economists Agree That Trade Unions Reduce the Overall Unemployment