Which of the Following Statements Is True for the U

question 74

Multiple Choice

Which of the following statements is true for the U.S. economy?

• A) Higher wages in the unionized sectors of the economy push up wages in the nonunion sectors as well.
• B) Inflation tends to accelerate when the proportion of the labor force that is unionized increases.
• C) Union workers currently receive wages that are 15 to 20 percent higher, on average, than similar nonunion workers.
• D) When we compare similar union and nonunion workers, we find virtually no difference in the wages they receive.

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Definitions:

Commercial Electronic Fund Transfer

Electronic transactions between businesses for the purpose of transferring funds directly from one bank account to another.

Substitute Check

A negotiable instrument that is a paper reproduction of the front and back of an original check and contains all of the same information required on checks for automated processing.

Digital Image

A representation of a visual image in a format that can be stored, viewed, or transmitted electronically.

Original Check

A document that is written, signed, and ready for use or deposit as payment.