Craft Unions

question 36

Multiple Choice

Craft unions

• A) attempt to organize workers at all skill levels in a firm or industry.
• B) have been declared illegal by federal legislation.
• C) only organize workers who have a particular set of skills.
• D) attempt to increase the supply of their particular type of labor.

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Definitions:

Employment

The condition of having a paid job; the total number of people currently employed in the economy.

Interest Rate Effect

The impact that changes in the interest rate have on consumer spending and investment due to the cost of borrowing money.

Real Wealth Effect

The change in consumption levels caused by a change in purchasing power, often due to inflation or deflation.

Aggregate Demand Curve

The Aggregate Demand Curve represents the total quantity of all goods and services demanded by the economy at different price levels.