Econ (Ch 8 and 9)

________________________ is the process in which union and company management meet to negotiate a new labor contract. 

A(n) _____________________ is the portion of corporate profits paid out to stockholders. 

Dishwashers, messengers, and janitors would be considered what type of labor? 

Managers, teachers, bankers, and doctors would be considered what type of labor? 

True or False - A nonprofit organization does not operate for the purpose of generating profit. 

Auto mechanics, bank tellers, plumbers, firefighters, chefs, and carpenters would be considered what type of labor? 

_____________________ is a settlement technique in which a neutral person meets with each side to try to find a solution

True or False - One must be at least 18 years old to be even considered employed.

True or False - Outsourcing is the movement of some of a company's operations to another country. 

T/F -Featherbedding is the practice of negotiating labor contracts that keep unnecessary workers on a company's payroll.

True or False - A sole proprietorship has unlimited life. 

Lifeguards, short-order cooks, and many construction and factory workers would be considered what type of labor? 

T/F - A vertical merger is two or more firms involved in different stages of producing the same good or service. 

___________________ is the money and other valuables belonging to an individual or business. 

A _______________________ type of partnership in which all partners share equally in both responsibility and liability. 

True or False - More regulation would be considered an advantage of a corporation. 

T/F - The screening effect is the theory that the completion of college indicates that a job applicant is intelligent

True or False - In a limited liability partnership (LLP), only one partner is required to be a general partner.

Which of the following is NOT an advantage of a corporation? 

T/F - A white-collar worker is someone who performs manual labor, often in a manufacturing job.

T/F -Offshoring is the practice of contracting with another company to do a specific job that would otherwise be done...

A _____________________________ is a type of partnership in which all partners are limited partners. 

True or False - Productivity of labor is the quantity of output produced by a unit of labor

A _______________________ is an organized work stoppage intended to force an employer to address union demands. 

True or False - A glass floor is an unofficial barrier that sometimes prevents women and minorities from advancing

True or False - Derived demand is a type of demand that is set by the demand for another good or service. 

True or False - A labor union is an organization of workers that tries to improve working conditions, wages...

T/F - The learning effect is the theory that education increases production and thus results in higher wages. 

T/F - a blue-collar worker is someone who works in a professional or clerical job and who usually earns a weekly salary.

A ______ is a legal entity, or being, owned by individual stockholders, each of whom has limited liability for the firm

________________________ is a business owned and managed by a single individual. 

Which of the following is NOT an advantage of a franchise? 

T/F a closely held corporation is a type of corp that issues stock to only a few people, who are often family members. 

A ___________________ is a business organization owned and operated by a group of individuals for their shared benefit. 

T/F - A horizontal merger is the combination of two or more firms competing in the same market with the same good.

Which of the following is NOT an advantage of a partnership?

True or False - In a limited partnership, all partners are limited partners. 

Which of the following is NOT one of the advantages of a sole proprietorship? 

T/F - Guest workers are people from another country who are allowed to live and work in the U.S. permanently.

_____________ is a settlement technique in which a neutral third party listens to both sides and then imposes a decision

A ________________________ is a type of partnership in which only one partner is required to be a general partner. 

A _____________________ is a large corporation that produces and sells its goods and services in more than one country.

True or False - a right-to-work law is a measure that demands mandatory union membership. 

A _____ is a business organization owned by two or more persons who agree on a specific division of responsibilities

True or False - Equilibrium wage is the wage rate that is set when the supply of workers meets the demand for workers.

A _________ is a business combination merging more than three businesses that produce unrelated products or services. 

Which of the following is not a type of cooperative discussed in the textbook? 

True or False - A bond is a certificate of ownership in a corporation. 

T/F - A professional organization is a nonprofit organization that works to improve the image, working conditions...

True or False - A publicly held corporation is a type of corporation that sells stock on the open market.