Which of the Following Statements Correctly Identifies the Shift in Employment

question 308

Multiple Choice

Which of the following statements correctly identifies the shift in employment in the manufacturing sector in the United States?

• A) In the 1940s,about 10 percent of American workers were employed in the manufacturing sector.
• B) Today,about 30 percent of American workers are employed in the manufacturing sector.
• C) The decline in jobs in the manufacturing sector mirrors a previous decline in employment in the U.S.agricultural sector.
• D) Both a and b are correct.

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Definitions:

Industrial Regulation

Government policies and rules aimed at regulating and controlling industry practices to promote fair competition, protect consumer interests, and prevent market abuses.

Natural Monopolies

A market structure where a single firm can produce the entire market output at a lower cost than could multiple firms, often due to high fixed costs.

Laissez-Faire Antitrust

An approach to antitrust policy that advocates for minimal government intervention in the market and a greater reliance on market forces.

Dominance of Markets

A situation where one or few entities exert a disproportionate control over the sales, distribution, or characteristics of goods and services in a market.