The Largest Union in the U.S. Is The

question 85

Multiple Choice

The largest union in the U.S. is the:

• A) AFL-CIO.
• B) United Auto Workers.
• C) Teamsters Union.
• D) National Education Association.
• E) Industrial Workers of the World

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Definitions:

Horizontal Demand Curve

A horizontal demand curve represents a situation in economics where the demand for a product is perfectly elastic, meaning consumers would buy an infinite quantity at a certain price but none if the price increases.

Long-run Equilibrium

A state in economics where all factors of production and economic inputs are fully utilized, leading to a steady-state economy with no tendency for change in the absence of external shocks.

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the number of units produced, indicating the cost per unit of output.

Marginal Cost

The cost of producing one additional unit of a good or service, which can influence production decisions.