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Economics Chapter 9
Terms in this set (20)
All nonmilitary people who are employed or unemployed.
the theory that education increases productivity and results in higher wages.
the theory that the completion of college indicates to employers that a job applicant is intelligent and hardworking.
a temporary or part-time job.
value of output.
the wage rate that produces neither an excess supply of workers nor an excess demand for workers in the labor market.
labor that requires no specialized skills,education, or training.
labor that requires minimal specialized skills and education.
labor that requires specialized skills and training.
labor that requires advanced skills and education.
an unofficial, invisible barrier that prevents women and minorities from advancing in businesses dominated by white men.
an organization of workers that tries to improve working conditions, wages, and benefits for its members.
The practice of negotiating labor contracts that keep unnecessary workers on a company's payroll.
An organized work stoppage intended to force an employer to address union demands.
a measure that bans mandatory union membership.
someone who works in an industrial job, often in manufacturing, and who receives wages.
someone in a professional or clerical job who usually earns a salary.
the process in which union and company representatives meet to negotiate a new labor contract.
a settlement technique in which a neutral mediator meets with each side to try to find a solution that both sides will accept.
a settlement technique in which a third party reviews the case and imposes a decision that is legally binding for both sides.
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