Final Part 3 Flashcards
White collar workers:
Working offices, who hold high professional positions (professional, engineers)
Blue Collar Workers:
Craft workers
Service workers:
provides directly to customers (hair dresser, barber, firefighter)
Unskilled workers:
Waiter, garbage disposal, factory worker, janitors
Semi skilled workers:
painter,
Skilled workers: (Who is a professional?)
Highly educated person with a university degree
What is the difference between unskilled, semi-skilled, and skilled workers?
Education
Minimum Wage law:
The least amount of money you can be paid
$10.15-in MV
Labor Union:
An association of workers grouped together to fight for better working condition
What is the relationship between the CPI and inflation?
We know inflation because of the CPI
GDP:
Gross domestic product
What the country makes in a year
Inflation:
Prolonged raise in prices lowering the value of the dollar
CPI:
Consumer price index
What country has the highest GDP in the world?
Qatar
GDP per capita:
Population of country divided by the GDP