To increase wages for its members,a craft union restricts the labor supply by all of the following except:

Question

Quizplus · Accepted Answer

The craft union can increase the demand for union-made goods, but it doesn't restrict the labor supply. Higher initiation fees, longer apprenticeship periods, tougher qualification exams, and more restrictive licensing requirements all limit the number of workers who can join the union and, therefore, increase the bargaining power of existing members to demand higher wages.

To Increase Wages for Its Members,a Craft Union Restricts the Labor