ch 8 econ Flashcards
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civilian labor force
men and women 16 years old and over who are either working or actively looking for a job
macroeconomics
branch of economics that deals with the economy as a whole, inculding employment, gross domestic product, inflation, economic growth, and the distribution of income
craft/ trade union
an association of skilled wokers who preform the same kind of work
industrial union
an association of all workers in the same industry
right-to-work-law
is a state law making it illegal to force workers to join a union as a condition of employment, even though a union may already exsist at the compamy
idependent unions
unions that do not belong to the AFL-CIO
closed shop
a situation in which the employer agrees to hire only union members
union shop
an employment situation where workers do not have to belong to the union to be hired, but must join soon after and remain a member for as long as they keep your jobs
modified union shop
workers do not have to belong to a union to be hired and cannot be made to join one to keep their jobs
agency shop
an agreement that does not require a worker to join a union as a condition to get or keep a job, but does require the worker to pay union dues to help pay collective bargaining costs
grevance procedure
a provision for resolving issues that may come up later-may also be included in the final contract
mediation
the process of bringing in neutral third person or persons to help settle a dispute
arbitration
a process in which both sides agree to place their differences before a third party whose decision will be accepted as final
fact-finding
an agreement between union and management to have a nuetral third party collect facts about a dispute and present nonbinding recommendations
injunction
a court order not to act