Asked by
Isabel Jaramillo
on Nov 26, 2024
Verified
Suppose in some economy there are 100 million workers; 10 million of those workers work in retail trade, and 1 million of the retail workers belong to unions. Total union membership in this economy is 40 million. The rate of unionization in retail trade is
A) 1 percent.
B) 10 percent.
C) 40 percent.
D) 100 percent.
Union Membership
The state of individuals being members of a labor union, which is an organization intended to represent the collective interests of workers in negotiations with employers.
Rate of Unionization
The percentage of workers who are members of a union within a specific industry, sector, or economy.
- Analyze the role of unionization and its impact on wage rates.
Verified Answer
AR
Learning Objectives
- Analyze the role of unionization and its impact on wage rates.