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The number of strikes in the U.S. has been steadily declining since around 1975. What factors are likely to explain this decline? (10 minutes)
Demand For Labor
The total amount of workers that employers in the economy want to hire at various wage levels.
Surplus Of Labor
A situation where the supply of labor exceeds the demand for it, typically resulting in unemployment or lower wages.
Minimum Wage
The lowest remuneration that employers can legally pay their workers, intended to protect employees from unduly low pay.
Demand For Labor
The total amount of workers that employers are willing and able to hire at a given wage rate, in a given period.
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