The Government Has Just Passed a Law Requiring That All

question 91

Multiple Choice

The government has just passed a law requiring that all residents earn the same annual income regardless of work effort.This law is likely to

• A)increase efficiency and increase equality.
• B)increase efficiency but decrease equality.
• C)decrease efficiency but increase equality.
• D)decrease efficiency and decrease equality.

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Definitions:

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, affecting economic, social, and cultural practices worldwide.

Financial Transactions

Exchanges or transfers of monetary value between parties, which can include lending, investing, borrowing, and paying.

AFL and CIO Merge

The union in 1955 of the American Federation of Labor (AFL) and the Congress of Industrial Organizations (CIO), two of the largest labor federations in the United States, to increase unity among the labor movement.

Craft Unionism

A type of unionism where workers in the same trade or craft form their own unions, focusing on specific skills or occupations.