Which of the Following Is True About the Knights of Labor

question 5

Multiple Choice

Which of the following is true about the Knights of Labor?

• A) The main focus of the Knights of Labor was to limit the workday to eight hours.
• B) It only made attempts to defend the rights of African Americans and female workers.
• C) The Knights of Labor was formed in 1866 to pave the way for other labor organizations.
• D) The jurisdiction of the Knights of Labor was limited to workers in the railways.
• E) The Knights of Labor initiated strikes which were successful in increasing pay and benefits.

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Definitions:

Accounting Profit

The net income for a company calculated by subtracting total expenses from total revenues according to accounting principles, not including implicit costs.

Short-run Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied over a short period, considering some inputs remain fixed.

Industry-wide Price

The average or standard price level for goods and services across a specific industry or market.

Total Profit

The total earnings of a business after subtracting all costs, including both fixed and variable costs, from total revenue.