Which of the Following Is an Explanation for the Decline

question 36

Multiple Choice

Which of the following is an explanation for the decline in union representation on the global scene?

• A) a decline in the agriculture sector
• B) constraints of globalization on macroeconomic policies
• C) less competition from developing countries
• D) an increase in low-skilled jobs
• E) an increase in labour-intensive jobs in high-wage countries

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Definitions:

Economic Indicators

Statistics and data points that are used to gauge the overall health and direction of an economy.

Nondefense Capital Goods

Products used by businesses to produce goods or services that are not intended for military use.

Supply Shock

An unexpected event that suddenly changes the supply of a product or commodity, resulting in an unexpected change in price.

Imported Oil

Oil that is produced outside of one's home country and brought in through international trade agreements for consumption or use.