The AFL-CIO Serves a Number of Purposes for Local and National

question 115

Multiple Choice

The AFL-CIO serves a number of purposes for local and national unions including all of the following except:

• A) Organizing, negotiating and grievance handling.
• B) Political lobbying.
• C) Research of issues related to unions and their members.
• D) Overall coordination and direction of the union movement.

Recognize the different components that are included in the calculation of EPS.

Know the distinction between basic EPS and diluted EPS.

Understand the impact of corporate actions like bonus shares and share splits on the calculation of EPS.

Identify adjustments necessary for calculating diluted EPS.

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Definitions:

Production Possibilities

A graphical representation of the maximum number and combinations of goods and services that can be produced from a fixed set of resources.

Absolute Advantage

A situation where a country, individual, or firm can produce more of a good or service with the same amount of resources compared to other entities.

Specialize

When individuals or businesses focus on producing a limited range of goods or services to increase efficiency and output quality.

Comparative Advantage

Being able to manufacture a good or provide a service with a smaller opportunity cost than that of competing individuals, companies, or nations.