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Unit Three Lesson Ten Economics Flashcards | StudBud
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Unit Three Lesson Ten Economics
Unit Three Lesson Ten Economics
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1
Nonwage compensations offered to workers in addition to pay; examples include health care and vacation benefits
Fringe benefits
Right-to-work law
Labor force
Wage gap
2
Negotiations between an employer and a group of employees, usually represented by a labor union
Equilibrium wage
Labor force
Offshoring
Collective bargaining
3
In general, wage rates are determined by
Supply and demand
Bread-and-butter unionism
Wage gap and affirmative action
Inshoring and offshoring
4
Improving one's education can
Improve unionism
Reduce cost of living
Decrease human capital
Lead to higher wages
5
What is the first step to building human capital?
Considering salary and benefit requirements
Identifying aptitudes, interests, and aspirations
Attaining education and work experience
Solidifying a network of colleagues and friends
6
Why might a company increase the wage rate for a position?
All of the above
The cost of living was getting higher
Few workers were applying for the position
The job required work in dangerous conditions
7
A law that prohibits employers from making union membership a requirement for getting or keeping a job
Labor force
Wage gap
Right-to-work law
Equilibrium wage
8
Policies designed to promote the hiring of individuals from groups that have historically faced job discrimination
Wage gap
Fringe benefits
Labor force
Affirmative action
9
An example of a knowledge worker is a
Temporary worker who stocks shelves
Lifeguard who knows CPR
Cashier who handles money
Lawyer who creates contracts
10
What was the purpose of the Taft-Hartley Act?
To limit the power of unions
To legalize closed shops
To allow collective bargaining
To outlaw right-to-work laws
11
The portion of the population that has paid work or is seeking work
Affirmative action
Offshoring
Wage gap
Labor force
12
A scenario that best exemplifies the wage gap is when
An Asian female makes more money than another Asian female
Two males make the same amount of money despite an experience gap
A Hispanic woman makes less money than a Hispanic man
A man and a woman, both in their mid-30s, make the same amount of money
13
The process by which people around the world are becoming increasingly interconnected is called
Inshoring
Globalization
Telecommuting
Certification
14
A difference in the wages earned by various groups in society, such as between men and women
wage gap
Labor Force
Offshoring
equilibrium wage
15
Relocating work and jobs to another country; the opposite of inshoring
Labor Force
fringe benefits
collective bargaining
Offshoring
16
Who is included in the labor force?
A 30 year-old serving in the air force
A homemaker volunteering at an animal shelter
a 16 year-old looking for a part-time job
A prison inmate waiting to be released
17
The rate of pay that results in neither a surplus nor a shortage of labor
Labor force
Equilibrium wage
Collective bargaining
Wage gap
18
A recent trend in the labor force is that the number of
Younger workers is expected to increase by 2016
Women and minorities in the labor force has increased
People working in the manufacturing industry has increased
Workers in the United States has decreased since the 1980s
19
Globalization affects the labor force by
Increasing the demand for better benefits
Reducing the likelihood of offshoring jobs
Causing job losses in some industries
Shifting job growth toward the service sector
20
Unions can improve wages and working conditions
Through signing yellow-dog contracts
By advocating right-to-work laws
By negotiating individually
Through collective bargaining
