Economics Chapter 9 Labor – Flashcards
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labor union
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an organization of workers that tries to improve working conditions, wages, and benefits for its members
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strike
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an organized work stoppage intended to force an employer to address union demands
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industrial union
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An organization of common laborers and craft workers in a particular industry.
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craft union
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an organization of skilled specialists in a particular craft or trade
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right to work law
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a measure that bans mandatory union membership
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blue collar worker
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someone who works in an industrial job, often in manufacturing, and who receives wages
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white collar worker
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someone in a professional or clerical job who usually earns a salary
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closed shop
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a company that hires only union members
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union shop
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A place of work in which any person may be hired provided that he or she joins the union within a specified time.
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agency shop
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arrangement under which nonunion workers must pay union dues
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collective bargaining
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Process by which a union representing a group of workers negotiates with management for a contract
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mediation
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a settlement technique in which a neutral mediator meets with each side to try to find a solution that both sides will accept
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arbitration
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a settlement technique in which a third party reviews the case and imposes a decision that is legally binding for both sides
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labor force
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All nonmilitary people who are employed or unemployed
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productivity
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value of output
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equilibrium wage
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the wage rate that produces neither an excess supply of workers nor an excess demand for workers in the labor market
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unskilled labor
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Labor that requires no specialized skills, education, or training
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semi skilled labor
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Labor that requires minimal specialized skills and education
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skilled labor
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Labor that requires specialized skills and training
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professional labor
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Labor that requires advanced skills and education
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affirmative action
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the use of policies, programs and procedures to insure the inclusion of minorities and women in job hiring, college admission, and the awarding of government contracts.
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glass ceiling
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an unofficial, invisible barrier that prevents women and minorities from advancing in businesses dominated by white men
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featherbedding
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the practice of negotiating labor contracts that keep unnecessary workers on a company's payroll
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learning effect
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the theory that education increases productivity and results in higher wages
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screening effect
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the theory that the completion of college indicates to employers that a job applicant is intelligent and hard working
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contingent employment
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a temporary or part-time job
