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25 Cards in this Set
- Front
- Back
- 3rd side (hint)
What is a Labor Force?
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All nonmilitary people who are employed or unemployed.
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composed of people 16>yr.old, who worked for at least 1 hr. per week, 15> hrs. w/o pay for family business (farm), & held jobs but didn't work due to illnesses, vacations, labor disputes, or bad weather.
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What is the Learning Effect?
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The theory that education increases productivity and results in higher wages.
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Statistically-based theory that shows college-educated workers typically earn more than high-school dropouts.
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What is the Screening Effect?
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The theory that the completion of college indicates to employers that a job applicant is intelligent and hardworking.
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Skills & determination necessary to complete college my be useful qualities to employees in selling their skills to employers.
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What is Contingent Employment?
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A temporary or part-time job.
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Placed through temp agencies or employed by firms as contract workers.
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What is Productivity?
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The value of output.
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Pay/salary determined by the revenue your skills generate for a firm.
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What is 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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graphed by the intersection of the supply & demand curves
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What is Unskilled Labor?
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Labor that requires no specialized skills, education, or training.
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Usually earn hourly wages & include dishwashers, messengers, janitors, & factory/farm workers.
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What is Semi-Skilled Labor?
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Labor that requires minimal specialized skills and education.
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Usually earn hourly wages, & include lifeguards, short order cooks, word processors, & construction workers.
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What is Skilled Labor?
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Labor that requires specialized skills and training.
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Need little supervision, earn hourly wages not a salary, operate complicated equipment (i.e., auto mechanics, bank tellers, plumbers, firefighters, chefs, & carpenters.)
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What is Professional Labor?
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Labor requiring advanced skills and education.
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White-collar workers who earn a salary, include managers, teachers, bankers, doctors, actors, professional atheletes, & computer programmers.
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What is a 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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Men dominate the higher managerial positions in some companies causing women & miniorites to advance in their career ladder.
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What is a 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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Its key goal is to get wage increases for its members. Ex. 2002 union wage = 740$ vs. $587 per wk. for nonunion workers.
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What is Featherbedding?
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The practice of negotiating labor contracts that keep unnecessary workers on a company's payroll.
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This practice causes nonunion worker wages to fall
ex. railroad worker earnings for caboosemen. |
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What is a Strike?
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An organized work stoppage intended to force an employer to address union demands.
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Courts initially regarded Unions as illegal until Samuel Gompers a cigarmaker used this method to seek reforms of higher wages, shorter hours & safer work environment.
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What is a Right-to-Work Law?
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A measure that bans mandatory union membership.
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Litigation passed after the Taft-Hartley Act in 1947.
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What is a 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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These jobs are currently declining in the U.S. causing labor unions to disappear.
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What is a White-Collar Worker?
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Someone in a professional or clerical job who usually earns a salary.
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These jobs are increasing due to jobs in high technology companies.
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What is Collective Bargaining?
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The process in which union and company representatives meet to negotiate a new labor contract.
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Goals for union negotiations include: wages & benefits, working conditions, and job security.
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What is 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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Helps each side understand the other's concerns, leading to an agreement.
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What is 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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This process follows collective bargaining & mediation in solving labor disputes.
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the price that businesses pay workers in exchange for their labor
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Wages
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those nonmilitary people, 16 yrs. or older who are either employed or looking for work
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Labor Force
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an electronic machine that is programmed to do tasks on an assembly line
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Robot
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the use of machinery, often computerized, in place of human labor
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Automation
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the lowest hourly amount of money that a business can legally pay its workers; ex. , a price floor
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Minimum Wage
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