Give some explanations for the decline in union membership in the United States
One reason unionization in the United States has been declining is the shift of the U.S. labor force into service industries and out of manufacturing. In addition, American workers' preferences seem to have shifted away from unions. The increasing share of women in the labor force may have contributed to this trend, because women have traditionally been less prone than men to join unions. Finally, American unions came under increasing pressure in the 1990s and early 2000 . because of stronger competition both at home and abroad. In response, firms closed plants and eliminated jobs. This "downsizing" trend made it even more difficult for unions to win concessions that improve the economic positions of their members which has reduced the attractiveness of union membership.
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Value judgments in economics:
A. are essential parts of positive economics. B. can be avoided through the use of normative economics. C. are necessary when objective analysis cannot address a question. D. can always be avoided with the use of objective analysis.
Chris received a consumer surplus of $50 when he purchased a watch for $100 . This implies he was willing to pay _____ for the watch
a. $215 b. $150 c. $100 d. $50
What is the present value of? $100 two years from now at an interest rate of? 6%?
A) $6
B) $89
C) $94.34
D) $106
You are a manager in a perfectly competitive market. The price is $14. Your total cost curve is C(Q) = 10 + 4Q + 0.5Q2. What level of output should you produce in the short run?
A. 10 B. 5 C. 15 D. 8