All of the Following Most Likely Explain the Decline in Union

question 38

Multiple Choice

All of the following most likely explain the decline in union membership EXCEPT ________.

• A) increased global competition
• B) improved wages and benefits
• C) technological improvements such as robotics
• D) legislative protections for workers

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Definitions:

Rational Expectations

The hypothesis in economics that assumes individuals form forecasts of future events based on all available information in an unbiased and rational manner.

Potential Output

The highest level of output an economy can produce without leading to inflation, when operating at full employment.

Monetary Policy

Actions undertaken by a central bank to control the money supply and interest rates to achieve macroeconomic objectives like controlling inflation, consumption, growth, and liquidity.

Wage Increases

Adjustments to employee salaries that lead to a higher rate of pay, often in response to factors like inflation, performance, and market demands.