Since 1945, the Unionized Share of the Workforce Has

question 117

Multiple Choice

Since 1945, the unionized share of the workforce has:

• A)remained remarkably steady.
• B)dropped steadily, and today is only 12.4%.
• C) risen steadily from 13.9% in 1945 to 32.1% in 2002.
• D)fluctuated erratically with large increases in some years and large decreases in others.

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Definitions:

Demand Schedule

A table showing the quantity of a good or service that consumers are willing and able to purchase at various prices over a specified period.

Short-Run Cost

Expenses that a firm faces in the short term, typically involving costs that vary with the level of output.

Product Promotion

The activities undertaken by a business to make its products or services known to potential customers and persuade them to buy.