14. which of the following correctly describes the trend in US union membership?

Question

14. which of the following correctly describes the trend in US union membership?

a. union membership has been decreasing steadily since the 1930s

b.union membership decreassed from 1930-1960, but has been increasing steadily since

c. union membership peaked in the 1960s and has been decreasing steadily since

d.union membership delined until the 1980s but has been increasing steadily since

20. in recent decades, the union-nonunion hourly wage differential has:

a. increased slightly

b.fallen significantly

c.stayed the same

d.increased substantially

22. when a group of workers forms a union, they introduce an element of:

a. monopsony into the product market

b.pure competition into the labor market

c.monopoly in the labor market

d. monopoly into the product market

23. the less bowed the Lorenz Curve, the:

a. greated the number of low income people

b. greated the number of high income people

c.more equal the income distribution

d.less rqual the income distribution

25. which of the following statement are correct about the age earnings cycle?

a.earnings increase with age because wrkers become more productive as they age until around 50 years. around 50 of the effects of aging utweigh the furtherr increases in productivity.

b.earnings generally increase up till the age of 30 and then steadily decrease

c.since every person is different we can reach no general conclusions about the cycle

d.earnings increase throughout a person's lifetime until they reach retirement

Explanation / Answer

14. Union membership peaked in the 1960s and has been decreasing steadily since

Union density grew in the 1960, 1970s and early 1980s, but has declined since then the key indicator for the strength of labor unionism is its proportion of the non-agricultural labor force.

20. increased slightly

Unions raise wages of unionized workers by roughly 20% and raise compensation, including both wages and benefits, by about 28%.

22. c monopoly in the labor market

23. c. more equal the income distribution

Lorenz curves closer to the diagonal indicate more equal distribution of income.

25 d. earnings increase throughout a person's lifetime until they reach retirement

As people age and gain work experience, their earnings might be expected to continue to rise or at least remain stable until retirement

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