If Unions Have Long Been More Important in the Industrial

question 53

Multiple Choice

If unions have long been more important in the industrial sector than in the service sector,what is the explanation for the declining union membership in the United States?

• A)More workers are entering the teaching field.
• B)Employment rates in the industrial sector are increasing.
• C)Employment in the industrial sector has declined in recent decades as a share of all jobs.
• D)Cultural diversity in the workforce has increased.
• E)The number of public sector employees has decreased.

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Definitions:

Perfect Complements

Goods that are always used together in fixed proportions, where an increase in demand for one leads to a corresponding increase in demand for the other.

Initial Endowment

The initial allocation of resources, goods, or wealth that individuals or firms possess before engaging in exchanges or production.

Pareto Efficient Allocations

refers to an economic situation where no individual can be made better off without making someone else worse off.

First Theorem of Welfare Economics

A principle stating that, under perfect competition and with no externalities, the allocation of resources where supply equals demand leads to a Pareto efficient outcome.