One could argue that the 17 million days idle understate the cost of work stoppages.
Economists criticize unions for misallocating labor.
Your first job is to explain why a decline in unionization harms society. Select the most appropriate statement. More than two-thirds of union workers have contracts containing COLA clauses. Under the typical COLA clause, each 10 percent increase in prices leads to a 10 percent increase in nominal wage rates. Both statements are true.