Exam Review

Agreement in which a neutral third part investigates a union/management dispute is Injunction.

Level of pay that creates neither a surplus nor a shortage of workers in the market

Arrangement under which union membership is mandatory is union shop

Group whose members all perform the same kind of work

Prohibits requiring a worker to join a union

Court order halting action during a labor dispute

Length of time a person has been on a job is seniority

Arrangement under which union membership is optional

Non-Institutionalized persons, aged 16 and over, either working or seeking employment

Negotiation between union and management representatives

Prevailing pay scale for an occupation in a given area or region is wage rate.

Pay scale in which newer workers make less than others already on the job

Temporary government takeover of a company

Money that has an alternative use as an economic good is called commodity money

The shareholders of a corporate bank are responsible for the bank's debts.

Unions not affiliated with the AFL-CIO or the change to win coalition

Arrangement under which workers must join a union before they are hired

Measure of price that has been adjusted for inflation

Federal reserve notes are paper currency issued by the government.

Protest at a company to demonstrate disagreement with their actions or policies

The federal reserve system is the privately owned, publicly controlled, central bank of the United States.

Government program that attempts to overcome unfair hiring practices is set-aside contract

Specie is not a for of money in silver or gold

Union administered by employers

Use of a neutral third party to resolve a dispute through compromise