Speculating on the Future of Organized Labor Unions, Which of the Following

question 147

Multiple Choice

Speculating on the future of organized labor unions, which of the following statements best summarizes real concerns?

• A) Future union membership will significantly increase due to workers age 19-30 perceiving value in union representation and membership.
• B) The age of union members is heavily skewed. Most members are 55 and older. Unions will be challenged to recruit younger employees to support the unions.
• C) Due to headstrong union negotiators who have refused givebacks, the value of unions will decline.
• D) The UAW (United Auto Workers) will continue to advance as the most powerful union in the U.S., while the public sector employee unions will continue to experience decline.

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Definitions:

SAC Curves

Short-run average cost curves represent how a firm's average costs vary with output in the short term.

LAC Curves

Long Average Cost curves, which show the minimum average cost of production at different levels of output, assuming all production factors are variable.

Output Levels

The quantities of goods or services produced by a firm or industry at a given time or under certain conditions.

Economies of Scale

The economic gains achieved by businesses because of their large scale, volume of production, or extent of operations, which usually results in a reduction in the cost per unit as the scale of operation grows.