Chapter 9: Labor Flashcards Preview

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Flashcards in Chapter 9: Labor Deck (21)
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1
Q

all nonmilitary people who are employed or unemployed

A

labor force

2
Q

the theory that education increases productivity and results in higher wages

A

learning effect

3
Q

the theory that the completion of college indicates to employers that a job applicant is intelligent and hard-working

A

screening effect

4
Q

a temporary or part-time job

A

contingent employment

5
Q

demand that is determined by demand for another good or service

A

derived demand

6
Q

value of output

A

productivity

7
Q

the wage rate that produces neither an excess supply of workers nor an excess demand for workers in the labor market

A

equilibrium wage

8
Q

labor that requires no special skills, education, or training

A

unskilled labor

9
Q

labor that requires minimal specialized skills and education

A

semi-skilled labor

10
Q

labor that requires specialized skills and education

A

skilled labor

11
Q

labor that requires advanced skills and education

A

professional labor

12
Q

an unofficial, invisible barrier that prevents women and minorities from advancing in business dominated by white men

A

glass ceiling

13
Q

an organization of workers that tries to improve working conditions, wages, and benefits for its members

A

labor union

14
Q

the practice of negotiating labor contracts that keep unnecessary workers on a company’s payroll

A

featherbedding

15
Q

an organized work stoppage intended to force an employer to address union demands

A

strike

16
Q

a measure that bands mandatory union membership

A

right-to-work law

17
Q

someone who works in an industrial job, often in manufacturing, and who receives wages

A

blue-collar worker

18
Q

someone in a professional or clerical job who usually earns a salary

A

white-collar worker

19
Q

the process in which union and company representatives meet to negotiate a new labor contract

A

collective bargaining

20
Q

a settlement technique in which a neutral mediator meets with each side to try to find a solution that both sides will accept

A

mediation

21
Q

a settlement technique in which a third party reviews the case and imposes a decision that is legally binding for both sides

A

arbitration