ECONOMICS
Labor - Ch 9
1.
Labor Force
Chapter 9
Labor
What do economists define all nonmilitary people
who are employed or unemployed?
Screening Effect
What did Stalin forcibly transform the Soviet Union into by mid-1930s?
Learning Effect
What is the theory that the completion of college indicates
to employers that a job applicant is intelligent and hardworking?
What is the theory that education
increases productivity and results in higher wages?
Professional Labor
Semi skilled Labor
What labor requires advanced skills and education?
What is labor that requires minimal specialized skills and education?
Skilled Labor
Wage Discrimination
What is labor that requires specialized skills and education?
What occurs when people with the same job, same skills and education,
same job performance, and same seniority receive unequal pay?
Labor - Ch 9
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Unskilled Labor
Glass Ceiling
What is labor that requires
no specialized skills, education or training?
What is an unofficial, invisible barrier that prevents women and
minorities from advancing in businesses dominated by white men?
Labor Union
Featherbedding
What is an organization of workers that tries to improve working
conditions, wages, and benefits for its members?
What is the practice of negotiating labor contracts that keep
unnecessary workers on a company’s payroll?
Strike
Injunctions
What is an organized work stoppage intended
to force an employer to address union demands?
What are court orders used to force
striking employees back to work?
Collective Bargaining
Right-To-Work-Laws
What is the process in which union and company representatives
meet to negotiate a new labor contract?
What is a measure that a state can pass that bans union membership?
What did Stalin forcibly transform the Soviet Union into by mid-1930s?
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Blue-Collar Workers
Mediation
Who works in industrial jobs, like manufacturing, and receives wages?
What is a settlement technique in which a neutral mediator meets
with each side to try to find a solution that both sides will accept?
White-Collar Workers
Arbitration
Who works for someone in a professional
or clerical job who usually earns a salary?
What is a settlement technique in which a third party reviews the
case and imposes a decision that is legally binding for both sides?
2. How do the laws of supply and demand affect the labor market?
When demand for labor is high and there is a lack of labor supplied to meet this demand, wages and
employment opportunities for workers increase; when demand for labor is low and the supply of labor is
high, wages and employment opportunities decrease.
3. How do minimum wage and safety laws affect wages?
Minimum wage laws help poor workers earn enough to support themselves; however, by increasing the
price of labor, a minimum wage potentially removes employment opportunities from those that need it the
most. Laws increasing safety at the work place may decrease wages because workers are willing to work
for lower wages when jobs are safer.
4. What are some of the goals for labor unions?
Improving working conditions, increasing wages, and gaining employees benefits
5. How does education affect wages?
In general, the higher the level of education a person achieves the higher the salary he or she learns.
Week 9 of 10.
The 9 and last quiz towards your midterm!
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Labor - Ch 9
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