Which of the following correctly describes the trend in U.S. union membership?
A) Union membership has been decreasing steadily since the 1930s.
B) Union membership decreased from 1930 - 1960, but has been increasing steadily since.
C) Union membership peaked in the 1960s and has been decreasing steadily since.
D) Union membership declined until the 1980s, but has been increasing steadily since.
C
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Economic rent is a payment for a factor of production that elicits an increase in the quantity supplied.
Answer the following statement true (T) or false (F)
Consider a small family wheat farm. List some examples of explicit costs of farming
Marginal resource cost is the change in total cost resulting from the production of an additional unit of output, other things constant
Indicate whether the statement is true or false
Which of the following statements is false?
A) Discouraged workers are a subset of a larger group termed marginally attached workers. B) Discouraged workers are counted as unemployed in the official unemployment rate calculation. C) A person is considered underemployed if he is working at a job for which his skills far exceed the skills required for his job. D) People who are underemployed are not counted as unemployed.