Discuss the history of labor union membership in the United States since the late 19th century.
What will be an ideal response?
Labor unions developed in the United States in the late 19th century as large
numbers of workers entered factory employment. Union membership grew rapidly after
1880 and by the early decades of the 20th century nearly a third of workers were union
members. The percentage of union workers fell in the era following World War II as
workers moved out of manufacturing and into the service sector. Other factors
contributing to the decline in membership include the decline in U.S. manufacturing
employment overall, global competition, deregulation of formerly highly-unionized
industries, and legal protections for workers that have improved workplace safety for all.
You might also like to view...
Use the following graph for a monopolistically competitive firm to answer the next question.
Point b indicates
A. the price-output combination that yields maximum profits. B. the lowest possible cost of the firm's product. C. a situation where the firm is earning economic profits. D. a point that cannot be the long-run equilibrium point.
What is the marginal revenue from selling the third unit?
a. $50 b. $100 c. $150 d. $0
Which of the following individuals would most likely favor an increase in government spending, as opposed to a tax cut, as the basis for expansionary fiscal policy?
a. "There must be a constant philosophical prejudice against any intervention by the state into our lives, for by definition such intervention abridges liberty."-William Simon b. "The bastards [read politicians] can't spend what they don't have."-Howard Jarvis c. "The family that takes its mauve and cerise, air-conditioned, power-steered, power-braked automobile through cities that are badly paved, made hideous by litter, [and] blighted buildings...to picnic beside a polluted stream amid the stench of refuse may properly reflect on the curious unevenness of their blessings."-J.K. Galbraith d. "Public expenditures are made for the primary benefit of the middle class and financed with taxes on the poor and rich."-Director's Law
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the real GDP and current international transactions in the context of the Three-Sector-Model?
a. Real GDP falls, and current international transactions rises. b. Real GDP rises, and current international transactions remain the same. c. Real GDP rises, and current international transactions become more negative (or less positive). d. Real GDP rises, and current international transactions become more positive (or less negative). e. Real GDP falls, and current international transactions become more negative (or less positive).