Union Membership as a Percent of the Nonagricultural Labor Force

question 31

Multiple Choice

Union membership as a percent of the nonagricultural labor force ____ in 1970 to approximately ____ in 2010.

• A) fell from approximately 30 percent; 12 percent
• B) rose from approximately 15 percent; 22 percent
• C) fell from more than 40 percent; 10 percent
• D) rose from approximately 8 percent; 40 percent

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Definitions:

Absorption Costing

A financial recording approach that encompasses all production expenses, including direct materials, direct labor, and overhead costs, both variable and fixed, in the pricing of a product.

Income Statement

The income statement is a financial report that shows a company's revenues, expenses, and profits over a specific period, highlighting its financial performance.

Contribution Format

An income statement format that separates fixed and variable costs, highlighting the contribution margin of a company's products or services.

Segmented Statements

Financial reports that break down the revenue, costs, and profitability of different parts of a company, such as departments or product lines.