How Did Union Membership as a Percentage of the Labor

question 28

Multiple Choice

How did union membership as a percentage of the labor force in the United States change during the 1950s?

• A) It fell to its lowest point of the twentieth century.
• B) It hit the highest point at 49 percent in 1954.
• C) It peaked at just over 27 percent in 1957.
• D) Having peaked in 1949,it fell throughout the decade.

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Definitions:

Inventory Method

Inventory methods are accounting approaches used to value and manage a company's inventory, including techniques like FIFO (First In, First Out) and LIFO (Last In, First Out).

Most Recent Costs

refers to the latest expenses incurred, often used in inventory valuation to assume that the costs of the most recently acquired items are the first to be assigned.

Cost Of Goods Sold

Expenses directly related to manufacturing goods a company sells, including labor and materials.

Oldest Purchases

This term signifies inventory items that were bought first and are typically considered for cost calculation under the First-In, First-Out (FIFO) inventory method.