Chapter Nine Vocabulary: Labor

Question 1

Labor Force

Answer 1

all nonmilitary people who are employed or unemployed

Question 2

Learning Effect

Answer 2

the theory that education increases productivity and results in higher wages

Question 3

Screening Effect

Answer 3

the theory that the completion of college indicated to employers that a job applicant is intelligent and hardworking

Question 4

Contingent Employment

Answer 4

a temporary or part-time job

Question 5

Derived Demand

Answer 5

demand that is determined by demand for another good or service

Question 6

Productivity

Answer 6

value of output

Question 7

Equilibrium Wage

Answer 7

the wage rate that produces neither an excess supply of workers nor an excess demand for workers in the labor market

Question 8

Unskilled Labor

Answer 8

labor that requires no specialized skills, education, or training

Question 9

Semi-Skilled Labor

Answer 9

labor that requires minimal specialized skills and education

Question 10

Skilled Labor

Answer 10

labor that requires specialized skills and training

Question 11

Professional Labor

Answer 11

labor that requires advanced skills and education

Question 12

Glass Ceiling

Answer 12

an unofficial, invisible barrier that prevents women and minorities from advancing in businesses dominated by white men

Question 13

Labor Union

Answer 13

an organization of workers that tries to improve working conditions, wages, and benefits for its members

Question 14

Featherbedding

Answer 14

the practice of negotiating labor contracts that keep unnecessary workers on a company’s payroll

Question 15

Strike

Answer 15

an organized work stoppage Intended to force an employer to address union demands

Question 16

Right-To-Work Law

Answer 16

a measure that bans mandatory union membership

Question 17

Blue-Collar Worker

Answer 17

someone who works in an industrial job, often in manufacturing, and who receives wages

Question 18

White-Collar Worker

Answer 18

someone in a professional or clerical job who usually earns a salary

Question 19

Collective Bargaining

Answer 19

the process in which union and company representatives meet to negotiate a new labor contract

Question 20

Mediation

Answer 20

a settlement technique in which a neutral mediator meets with each side to try to find a solution that both sides will accept

Question 21

Arbitration

Answer 21

a settlement technique in which third party reviews the case and imposes a decision that is legally binding for both sides