Economics: C9 Workers & Wages / Labor

Front 1

the price that businesses pay workers in exchange for labor

Back 1

wages

Hint 1

If you do the work, you get the w_______.

Front 2

those 16 yrs. old or older who are either employed or looking for work

Back 2

labor force

Hint 2

all nonmilitary people who are employed or unemployed

Front 3

an electronic machine that is programmed to do tasks on an assembly line

Back 3

robot

Hint 3

Many r_____ are used on assembly lines to cut labor cost and improve quality control.

Front 4

the use of machinery, often computerized, in place of human labor

Back 4

automation

Hint 4

Walt Disney was the first to use a__________ in his theme parks.

Front 5

the lowest hourly amount of money that a business can legally pay its workers

Back 5

minimum wage

Hint 5

A government price floor is
m________ w_____

Front 6

the theory that education increases productivity and results in higher wages

Back 6

learning effect

Hint 6

college-educated workers typically earn more than high-school dropouts illustrates the L_______ E______

Front 7

the theory that the completion of college indicates to employers that a job applicant is intelligent and hard-working

Back 7

screening effect

Hint 7

completion of college indicates to employers that a job applicant is intelligent and hard-working

Front 8

a temporary or part-time job; hiring for a specified time period or completion of a certain task

Back 8

contingent employment

Hint 8

"temp" agencies offer c_________ e_________

Front 9

value of output

Back 9

productivity

Hint 9

workers are paid according to the value of what they produce

Front 10

the wage rate that produces neither an excess supply of workers nor an excess demand for workers in the labor market

Back 10

equilibrium wage

Hint 10

shown on a graph by intersect of the supply & demand curves where the E_____ W_____ aligns with the equilibrium point

Front 11

labor that requires no specialized skills, education, or training

Back 11

unskilled labor

Hint 11

earn an hourly wage: messengers, dishwashers, custodians, farm/factory workers

Front 12

labor that requires minimal specialized skills and education

Back 12

semi-skilled labor

Hint 12

earn an hourly wage: lifeguards, short-order cooks, some construction workers or word processors

Front 13

labor that requires specialized skills and training

Back 13

skilled labor

Hint 13

need little supervision, earn hourly wage rather that salary: auto mechanics, bank tellers, plumbers, firefighters, chefs & carpenters

Front 14

labor that requires advanced skills and education

Back 14

professional labor

Hint 14

white-collar workers paid a salary: managers, bankers, teachers, doctors, actors, professional athletes, & computer programmers

Front 15

an unofficial, invisible barrier that prevents women and minorities from advancing in businesses dominated by white men

Back 15

glass ceiling

Hint 15

Due to the g_____ c______ many women have difficulty becoming CEOs or obtaining top-level promotions

Front 16

an organization of workers that tries to improve working conditions, wages, and benefits its members

Back 16

labor union

Hint 16

key goal is to get wage increases for their members but also to improve working conditions; may depress wages of nonunion wage earners

Front 17

the practice of negotiating labor contracts that keep unnecessary workers on a company's payroll

Back 17

featherbedding

Hint 17

"cabooseman" rode the railroad tracks in the rear of the train to operate a rear brake that stopped the train even after design changes allowed the conductor in the front of the train to operate it.
= money for doing nothing.

Front 18

an organized work stoppage intended to force an employer to address union demands

Back 18

strike

Hint 18

When a s_____ occurred employers would fire or replace workers who caused trouble by trying to organize

Front 19

a measure that bans mandatory union membership

Back 19

right-to-work law

Hint 19

used to curb union power by the Taft-Hartley Act 1947

Front 20

someone who works in an industrial job, often in manufacturing, and who receives wages

Back 20

blue-collar worker

Hint 20

unions were strongest in the manufacturing sector w/ high proportion of b____ c_______ workers

Front 21

someone in a professional or clerical job who usually earns a salary

Back 21

white-collar worker

Hint 21

unions are weakest in w____ c______ workers who are professional salaried workers

Front 22

the process in which union and company representatives meet to negotiate a new labor contract

Back 22

collective bargaining

Hint 22

unions use c_______ b_______ to attain the goals of:
wages & benefits, working conditions, & job security

Front 23

a settlement technique in which a neutral mediator meets with each side to try to find a solution that both sides will accept

Back 23

mediation

Hint 23

a decision reached by a m______ is nonbinding & neither side is required to accept it

Front 24

a settlement technique in which a third party reviews the case and imposes a decision that is legally binding for both sides

Back 24

arbitration

Hint 24

use of a___________ may help or hurt a union's cause & is nonnegotiable

Front 25

a law that would allow businesses to pay teenagers $2.50 an hour from May 1 to Sept. 30 ; supposed to encourage businesses to hire more teenagers for the summer

Back 25

submininimum wage law

Hint 25

voted down in Congress