In Which One of These Years Was Labor Union Membership

question 120

Multiple Choice

In which one of these years was labor union membership the highest?

• A)1940
• B)1960
• C)1980
• D)1990

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Definitions:

Marginal Changes

Small incremental adjustments to a plan of action, often analyzed in economics to understand the effects of slightly altering production, consumption, or investment.

Normative Economic Statements

Statements that reflect an opinion or judgment about what ought to be in the economy, focusing on what should happen or what ought to be.

Microeconomics: A Contemporary Introduction

An educational resource that provides an updated overview of the principles and applications of microeconomics.

Ceteris Paribus Assumption

The assumption used in economics that all other variables are held constant when analyzing the effect of one variable on another.