Union Membership Has Fluctuated During the Last Several Decades

question 230

Multiple Choice

Union membership has fluctuated during the last several decades. Which of the following statements best describes the effect of unions on the share of total output allocated to labor?

• A) The share of output going to labor has been virtually constant, even though union membership as a share of the labor force has fluctuated.
• B) The share of total output going to labor has followed the same pattern as the business cycle in recent years.
• C) The share of total output going to labor rose as union membership rose from 1945 to 1960 and fell as union membership declined during the 1960 through 2000 period.
• D) The share of total output going to labor has increased substantially, even though during the last several decades union membership has declined.

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Definitions:

Cash Payments Journal

A financial journal that records all cash outflows or payments made by a business.

Other Accounts Cr.

This term likely refers to the credit (Cr.) entries in accounts other than those frequently categorized, perhaps implying adjustments or less common financial transactions.

Purchases Journals

Accounting journals used to record all purchases of goods and services on credit for the purpose of resale.

Cash Receipts Journal

A dedicated accounting journal used to record all cash inflows or receipts, including cash sales and accounts receivable collections.