question

How does the level of men compare to women?:

answer

Women earn about 75% of what men earn

question

What factors can affect wages?:

answer

minimum wage, safety laws, labor unions

question

Which of the following is generally considered to be a skilled worker?:

answer

machinist

question

What is the basic economic principle that decides how high wages will be?:

answer

Supply and demand control wages

question

What is generally one of the major differences between union and nonunion workers?:

answer

Union workers earn more money for similar work

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question

What is one strategy that employers use to continue to do business despite high wages?:

answer

Replace some of the workers with machines

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Econ 9.2 – Flashcards

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