In the United States the Differential Between Union and Non-Union

question 153

Multiple Choice

In the United States the differential between union and non-union wages

• A) does not exist.
• B) currently averages about 50-60 percent.
• C) has been narrowing.
• D) tends to fall during a recession because union members typically have shorter-term contracts than do nonunion employees.

Explain the concepts of savings, investment, and consumption.

Analyze the impact of credit availability on consumption.

Differentiate between autonomous and induced consumption.

Recognize the effects of consumer confidence and expectations on spending.

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