Final - 2nd 30 Flashcards
A set aside contract is a
government program that attempts to overcome unfair hiring practices
Employers resented the strikes so they sometimes called for a
lockout, refusal to let employees work
The Great Depression brought misery to millions, but
changed attitudes toward the labor movement. There were renewed efforts to organize workers
Seizure is
temporary government takeover of a company
A closed shop only hires
union members. It became illegal under the top-hartey Act 1947
A union shop require
workers to join the union, a modified union shop doesn’t
An injunction is a
court order instructing one side to act or not act
Collective bargaining is
negotiation between union and management representative
The income earned by females has only been…
a fraction of that earned by males partially because of uneven distribution of men and women among various occupations the differences in human and discrimination
In the industrial post-civil war period, the two main types of labor union dominated…
The first was the craft union or trade union of skilled workers an the second type of union was the industrial union - an associated in the same industry
Keynes
investment sector (I)
Entitlements
broad social programs that use established eligibility requirements to provide income supplements
Supply-side policies target
producers, who are also suppliers, to stimulate their output, and therefore provide jobs
A key goal for supply-siders is to
reduce the economic role of the federal government
Supply-siders think government
dampens production and slows growth
President Reagan tried to shrink the government
but was unsuccessful but lower taxes increased income
Supply-siders want
deregulation, relaxing, or removing government regulations
Macroeconomics focuses on the
economy as a whole
Aggregate supply assumes that the
money supply is fix and the price level stays the same during the period
A way to raise revenues is for
governments to issue debt. They sell bonds in the credit market
Budgeting is getting
control of what you spend. It will prevent going into debt and makes life easier
As a borrower you would want a
low interest rate
Collateral is used mostly to
buy homes or cars. If you don’t make the payments, the lender takes back the house or car.
A secured credit card is obtained at the
bank after you make a deposit about $300 and you get a credit card and can make purchases up to that amount.
Business organizations include:
sole proprietorship - owned by one person
Stockholders
own a share in a corporation
Corporations are business that
have rights and responsibilities of an individual and are made up of stockholders who invest and receive profits
