The Long-Term Decline in U

question 68

Multiple Choice

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

• A) shift in jobs from service industries to manufacturing industries
• B) passage of laws that protect workers
• C) increase in blue-collar jobs in manufacturing
• D) increase in economic prosperity

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Definitions:

Sunk Costs

Costs that have already been incurred and cannot be recovered, and therefore should not influence future business decisions.

Opportunity Costs

The cost of the next best alternative that is foregone when a decision is made.

Unitising Costs

The process of breaking down costs into smaller, individual pieces or units to better analyze and manage them.

Quantitative Information

Data or information that can be measured and expressed numerically, facilitating objective analysis and decision-making.