Which of the following is NOT correct regarding the status of U.S. labor unions?
A) Today fewer than one in eight workers is a union member.
B) A key reason for the decline in union membership is the relative decline in manufacturing jobs as a share of total employment.
C) Greater domestic and global competition has had a part in bringing about a decline in unions.
D) Global trade has increased the number of union members in the United States.
Answer: D
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Individuals face scarcity; whole societies do not.
Answer the following statement true (T) or false (F)
Consider two countries: A and B. In country A, the annual growth rate of GDP per capita is 2%, while in country B the annual growth rate of GDP per capita is 6%. At present, country B's GDP per capita is higher than country A's GDP per capita
Which of the following statements will then be true? A) The gap between country A's GDP per capita and country B's GDP per capita will decrease for the first few years and then will increase later. B) The gap between country A's GDP per capita and country B's per capita will decrease over time. C) The gap between country A's GDP per capita and country B's per capita will widen over time. D) The gap between country A's GDP per capita and country B's per capita will remain the same.
What is the best description of unemployment insurance benefits in the United States?
A. All unemployed workers receive the same wage-adjusted benefit regardless of what state they live in. B. All unemployed workers receive the same benefit regardless of what their previous job was. C. Unemployment benefits are based on family size and age. D. The dollar value of unemployment benefits is greater for low-wage workers than for high-wage workers. E. Unemployment benefits are a greater percentage of previous earnings for low-wage workers than for high-wage workers.
If the firm is producing in the long run, then the firm's average total cost curve:
A. equals the average variable cost curve. B. is less than the average variable cost curve. C. exceeds the average variable cost curve. D. equals zero.