In 2015, Food Workers Had a Much Higher Unionization Rate

question 280

True/False

In 2015, food workers had a much higher unionization rate than teachers, according to U.S. Bureau of Labor Statistics data.

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Definitions:

Social Security Tax

A tax paid equally by employee and employer, based on employee’s wages. Most proceeds are used to pay Social Security retirement and Medicare benefits.

Personal Income Tax

A tax levied on individuals or entities based on their income or profits.

Corporate Profits

The surplus income of corporations after all expenses have been met, indicative of corporate health.

Inflationary Gap

Occurs when equilibrium GDP is greater than full-employment GDP.