Today Private Sector Union Density Is Around

question 103

Multiple Choice

Today private sector union density is around:

• A) 50 percent.
• B) 20 percent.
• C) 10 percent.
• D) 65 percent.

---

Definitions:

Resource Prices

The cost associated with acquiring the natural resources needed for production, such as minerals, timber, water, and land.

Output Increased

A situation where the production of goods or services in an economy rises.

Purely Competitive Market

A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information, leading to firms being price takers.

Short Run

A time period in which at least one factor of production is fixed, limiting the ability of a firm to adjust its output.