ECONOMICS CH. 8 PART A
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Created by:
Lambertprhs on December 4, 2008
Description:
Cassarino test Dec. 9
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18 terms
Terms | Definitions |
|---|---|
 MACROECONOMICS | The economics view that considers the economy as a whole: employment, wages and labor, inflation, distribution of income |
| CIVILIAN WORK FORCE | All males/females 16 yrs. and older who work or are looking for a job |
| TRADE UNION | an association of skilled workers such as cigar makers, shoe makers |
| INDUSTRIAL UNION | association of all workers involved in same industry, such as the steel industry |
| UNION ACTIVITIES | try to help workers negotiate to get better pay, hours, working conditions, and job security. If agreement doesn't occur, they might strike, picket, or boycott. |
| STRIKES | employees refusing to work until certain demands are made |
| PICKET | parade in front of the employers business carrying signs about the dispute |
| BOYCOTT | a union action organizing a mass refusal to buy products from the employer/company to try to hurt the business |
| LOCKOUT | owners refuse to let the employees work until management demands are met |
| COMPANY UNION | a union which is organized, supported, or run by employers |
| GREAT DEPRESSION | greatest period of economic decline and stagnation in US history 1929-1939 |
| RIGHT-TO-WORK LAW | a state law making it illegal to force workers to join a union as a condition of employment |
| CLOSED SHOP | now illegal, the employer agrees to hire union members only |
| MODIFIED UNION SHOP | union membership is optional but once you join, you are in forever |
| EFFECT ON LABOR OF GREAT DEPRESSION | attitudes shifted in favor of labor during this time; LaGuardia Act etc. were passed |
| ARBITRATION | union and company agrees to let a third party make a decision which everyone will accept as final |
| PRESIDENTIAL INTERVENTION | president enters labor-management dispute by appealing to both sides, or ending a strike, or if they're federal employees, firing them, |
| DIFFERENCE BETWEEN MEDIATION AND ARBITRATION | arbitration is binding; mediation is not binding |
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