Unlike Private-Sector Unions, Public-Sector Unions

question 4

Multiple Choice

Unlike private-sector unions, public-sector unions:

• A) are composed of less than 10 percent of the total public-sector workers.
• B) have seen a steady decline over the last several decades.
• C) do not have the right to strike over wages and working conditions.
• D) do not have the right to vote for their own bosses.
• E) do not have any influence upon the government.

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Definitions:

Gross Profit Rate

The percentage of revenue that exceeds the cost of goods sold, indicating the efficiency of production and pricing.

Retail Method

The retail method is an accounting technique used to estimate inventory value by converting the retail price of inventory to cost based on a cost-to-retail price ratio.

Estimated Inventory

An approximate valuation of inventory, used when an exact figure cannot be easily determined.

Retail Method

An accounting procedure for estimating the value of a store's merchandise by using the cost to retail price ratio.