In Recent Years, Manufacturing Firms in the U

question 114

Multiple Choice

In recent years, manufacturing firms in the U.S. have laid off workers. The best explanation of this trend is that:

• A) firms have been trying to weaken unions by reducing their reliance on labor.
• B) workers in the U.S. have become less productive and are no longer able to compete in the global economy.
• C) firms in many industries have become so efficient that they need fewer workers.
• D) the economy has been in a prolonged depression that has lasted more than a decade.

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Definitions:

Limited Partnership

A partnership where some members have limited liabilities to the amount they invest, while at least one partner has unlimited liability.

Extinguishing

The act of putting an end to something, such as extinguishing a debt, a legal obligation, or a fire.

Dissolution

Dissolution is the process of formally ending the existence of a legal entity such as a company or partnership.

Winding Up

The process of dissolving a company by selling its assets, paying off creditors, and distributing the remaining assets to shareholders.