The Long-Term Decline in the U

question 71

Multiple Choice

The long-term decline in the U.S. union membership has been attributed to the:

• A) shift in jobs from service industries to manufacturing industries.
• B) perception by firms that dealing with unions is expensive.
• C) increase in blue-collar jobs in manufacturing.
• D) increase in economic prosperity.

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Definitions:

Coffee Sales

The volume or quantity of coffee sold within a given period.

Total Revenue

The complete amount of income generated by the sale of goods or services before any costs or expenses are subtracted.

Perfectly Price Elastic

A market situation in which demand or supply responds infinitely to changes in price, meaning any tiny price change results in an infinite quantity demanded or supplied.

Demand

The quantity of a good or service consumers are willing and able to purchase at various prices during a given period.