ch 8 econ

Question 0

civilian labor force

Answer 0

men and women 16 years old and over who are either working or actively looking for a job

Question 1

macroeconomics

Answer 1

branch of economics that deals with the economy as a whole, inculding employment, gross domestic product, inflation, economic growth, and the distribution of income

Question 2

craft/ trade union

Answer 2

an association of skilled wokers who preform the same kind of work

Question 3

industrial union

Answer 3

an association of all workers in the same industry

Question 4

right-to-work-law

Answer 4

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

Question 5

idependent unions

Answer 5

unions that do not belong to the AFL-CIO

Question 6

closed shop

Answer 6

a situation in which the employer agrees to hire only union members

Question 7

union shop

Answer 7

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

Question 8

modified union shop

Answer 8

workers do not have to belong to a union to be hired and cannot be made to join one to keep their jobs

Question 9

agency shop

Answer 9

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

Question 10

grevance procedure

Answer 10

a provision for resolving issues that may come up later-may also be included in the final contract

Question 11

mediation

Answer 11

the process of bringing in neutral third person or persons to help settle a dispute

Question 12

arbitration

Answer 12

a process in which both sides agree to place their differences before a third party whose decision will be accepted as final

Question 13

fact-finding

Answer 13

an agreement between union and management to have a nuetral third party collect facts about a dispute and present nonbinding recommendations

Question 14

injunction

Answer 14

a court order not to act

Question 15

seizure

Answer 15

a temporary takeover of operations-to allow the government to negotaite with the union

Question 16

unskilled labor

Answer 16

poeple with jobs such as digging itches and such doesnt require any skill

Question 17

semiskilled

Answer 17

workers like floor polishers, lawnmowers, etc

require little training

Question 18

skilled labor

Answer 18

workers like doctors and chefs and etc

preform tasks with little supervision

Question 19

professional labor

Answer 19

workers like scientists and lawyers and etc

highest level of knowledge and skills

Question 20

non compteing labor grades

Answer 20

broad categories of labor that do not directly compete with one another because of experience, training, education, and other human capital investments

Question 21

wage rate

Answer 21

a standard amount of pay given for work preformed

Question 22

traditional theory of wage deterimination

Answer 22

theory that supply and demand for a workers skill and services determine the wage or salary

Question 23

equilibrium wage rate

Answer 23

the wage rate that leaves neither a surplus nor a shortage in the labor market

Question 24

theory of negotaited wages

Answer 24

that organized labors bargaining strength is a factor that helps determines wages

Question 25

signaling theory

Answer 25

willing to pay more for diplomas and such

Question 26

labor mobility

Answer 26

the ability and willingness of workers to relocate in markets where wages are higher