Econ - Ch. 8 Review

Banned unions because they were considered restraints to trade

Dollars that are not adjusted for inflation.

Theory that wages are based on supply and demand for a worker's skills

Established the right of unions to collective bargaining

Refusal to work until demands are met

Workers who are able to operate complex equip and can perform tasks w/ very little supervision

Protects workers engaged in peaceful protests, such as strikes

Studies the economy as a whole, including employment, GDP, inflation, and econ growth

Leaves neither a surplus nor shortage in the labor market

Situation in which new workers must join a union after being hired

Union arrangement outlawed by the Taft-Hartley Act of 1947

Situation in which an employer can only hire union members

A court order not to act

Set the first minimum wage and prohibited oppressive child labor