Public Sector Unions Now

question 46

Multiple Choice

Public sector unions now

• A)Represent a smaller percentage of workers than private sector unions.
• B)Are growing at a smaller rate than private sector unions.
• C)Represent over five times the percentage of workers in private sector unions.
• D)Are illegal in the United States.

---

Definitions:

Monopolistic Competitors

Companies that are in a competitive market structure but with differentiated products, allowing them small amounts of market power to set prices.

Industry Supply Curve

A graphical representation showing how much product a market can offer at various prices, for a specific industry.

Market Price

Market Price is the current value at which an asset or service can be bought or sold in an open market.

Monopolistic Competition

A market structure in which many companies sell products that are similar but not identical, allowing for product differentiation.