As the Percentage of the Labor Force Belonging to a Union

question 213

Multiple Choice

As the percentage of the labor force belonging to a union fell in the United States during the 1955 through early 2000 period, the share of national income going to labor

• A) increased 10 percent.
• B) remained approximately the same.
• C) decreased 10 percent.
• D) decreased 20 percent.

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Definitions:

Future Value

(1) A payment’s equivalent value at a subsequent date, allowing for the time value of money. (2) The total of principal plus interest due on the maturity date of a loan or investment.

Month-start Payments

Payments that are due at the beginning of each month.

Retirement Plan

A retirement plan is a financial strategy designed to provide individuals with income or support upon retiring from active employment.

Compounded Monthly

Interest calculation method where interest is added to the principal sum at the end of each month, with each following month's interest calculated on the new total.