Unions Add Costs to Labor

question 36

Multiple Choice

Unions add costs to labor.Who ultimately absorbs the costs?

• A) The employer
• B) The union worker
• C) The unorganized laborer
• D) The consumer

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Definitions:

Malthus's Prediction

Refers to Thomas Malthus's theory that population growth would outpace the growth of food supply, leading to widespread poverty and famine.

Less Developed Countries

Nations with a lower living standard, undeveloped industrial base, and low Human Development Index relative to other countries.

Per Capita Income

The average income earned per person in a given area or country, calculated by dividing the total income of the area by its population.

Dual Economy

An economic model that suggests the coexistence of two separate sectors within one economy, traditionally a modern industrial sector alongside a traditional agricultural sector.