Asked by
Gabrielle Sackmann
on Dec 10, 2024Verified
The share of the labor force that was unionized increased from 7.4 percent in 1930 to more than 30 percent in 1955. During these 25 years, the share of national income allocated to labor (in contrast to capital)
A) increased approximately 10 percent.
B) increased 17.6 percent.
C) fell 20 percent.
D) was virtually unchanged.
National Income
The total value of all goods and services produced by a country over a specific period, accounting for income earned domestically and abroad.
Labor Force
All the members of a particular organization or population who are able to work, viewed collectively.
Unionized
Describes a workplace or workforce that is represented by one or more labor unions, which negotiate wages, work rules, and working conditions.
- Scrutinize the effect of union movements on labor's allocation of national income.
- Explore the historical trends in union membership and its economic implications.
Verified Answer
HC
Learning Objectives
- Scrutinize the effect of union movements on labor's allocation of national income.
- Explore the historical trends in union membership and its economic implications.