Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
17 Cards in this Set
- Front
- Back
|
Items of value other than wages and salaries that are paid for by an employer in exchange for labor service
|
Fringe Benefits
|
|
|
Incomes of workers that have been adjusted for differences in the general level of prices across time or geographic areas
|
Real earnings
|
|
|
Unequal treatment of persons in the workplace on the basis of their race, sex, religion, or national origin
|
Employment Discrimination
|
|
|
A production technique that reduces the amount of labor required to produce a good or service by increasing the use of physical capital
|
Automation
|
|
|
A collective organization of employees who agree to bargain together as a unit with employers
|
Labor Union
|
|
|
State legislation that prohibits the union shop or the requirement that employees must join the union as a condition of employment
|
Right-to-Work Laws
|
|
|
An action of employees in which they refuse to work for employers
|
Strike
|
|
|
Produces resources that can be used to produce future goods or services
|
Capital
|
|
|
Current income that is not spent on consumption
|
Saving
|
|
|
The component of a money interest rate that reflects compensation to the lender for an expected increase in the general price level
|
Inflation Premium
|
|
|
The desire to consume now, rather than at some point in the future
|
Positive rate of time preference
|
|
|
The money interest rate adjusted for changes in the general price level
|
Real interest rate
|
|
|
The current worth of an amount of money to be received or paid at a later date
|
Present Value
|
|
|
The movement of individuals or families up or down income distribution rankings when comparisons are made at different points in time
|
Income Mobility
|
|
|
THe level of money income below which a family is considered to be "poor", based upon their family size and composition
|
Poverty Level
|
|
|
The conflict a person can have between transferring income to the poor and discouraging behavior that increase the incidence of poverty
|
Samaritan's Dilemma
|
|
|
A feature of the personal income tax system that provides supplementary payments to workers with low incomes
|
Earned Income credit
|
