Labor, Money, Banking and Finance

Question 0

Screening Effect

Answer 0

completion of college shows employes that applicant is intelligent and hardworking

Question 1

Learning Effect

Answer 1

Education increases productivity and results in higher wages

Question 2

Contingent Employment

Answer 2

temporary or part-time job

Question 3

productivity

Answer 3

value of output

Question 4

labor union

Answer 4

organization for workers that tries to improve working conditions, wages and benefits

Question 5

strike

Answer 5

organized work stoppage to make employer address union demands

Question 6

blue-collar worker

Answer 6

works in an industrial job and receives wages

Question 7

white-collar worker

Answer 7

in a professional job or clerical job usually earns a salary

Question 8

mediation

Answer 8

neutral person meets with each side to try to find a solution that both sides will accept

Question 9

arbitration

Answer 9

third party reviews that case and imposes a decision that is legally blinding

Question 10

barter

Answer 10

exchange of one set of goods or services for another

Question 11

money

Answer 11

anything that serves as a medium of exchange

Question 12

medium of exchange

Answer 12

determines value during the exchange of goods and services

Question 13

store of value

Answer 13

keep its value if stored rather than used

Question 14

currency

Answer 14

coins and paper bills used as money

Question 15

commodity money

Answer 15

objects that have value in themselves and are also used as money ex) salt

Question 16

representative money

Answer 16

objects that have value because the holder can exchange them for something else of value ex) money

Question 17

fiat money

Answer 17

government makes it “legal tender” to pay debt

Question 18

bank

Answer 18

institution for receiving, keeping, and lending money

Question 19

gold standard

Answer 19

system in which paper money and coins are equal to a certain amount of gold

Question 20

money supply

Answer 20

all money available in the u.s. economy

Question 21

mutual fund

Answer 21

pools money to purchase short-term “low-risk” investments

Question 22

default

Answer 22

failure to pay back a loan

Question 23

mortgage

Answer 23

type of loan that is used to buy real estate

Question 24

credit card

Answer 24

entitles holder to buy good and services based on promise to pay

Question 25

interest

Answer 25

price paid for use of borrowed money

Question 26

principal

Answer 26

amount of money borrowed

Question 27

debit card

Answer 27

check card withdraws money from checking accounts

Question 28

investment

Answer 28

the use of assets to an income or profit

Question 29

diversification

Answer 29

spreading out investments to reduce

Question 30

portfolio

Answer 30

a collection of financial assets

Question 31

prospectus

Answer 31

an investment report to potential investor

Question 32

return

Answer 32

money investor receives above the amount initially invested

Question 33

bond

Answer 33

receive interest for loaning money to a business or the government

Question 34

maturity

Answer 34

when payment to a bond holder is due

Question 35

yield

Answer 35

yearly rate of interest on a bond

Question 36

savings bond

Answer 36

low-denomination bond issued by us govt

Question 37

securities and exchange commission (SEC)

Answer 37

agency of government that regulates financial markets

Question 38

junk bond

Answer 38

lower-rated, potentially higher paying bond

Question 39

capital market

Answer 39

market where money is lent for LONGER than a year

Question 40

money market

Answer 40

marker where money is lent for LESS than a year

Question 41

share

Answer 41

portion of a stock

Question 42

dividends

Answer 42

profits paid to stockholders,usually every quarter

Question 43

capital gain

Answer 43

difference between HIGHER selling price and LOWER purchase price

Question 44

capital loss

Answer 44

difference between LOWER selling price and HIGHER purchase price

Question 45

stockbroker

Answer 45

person who links buyers and sellers of stock

Question 46

brokerage firm

Answer 46

business that specializes in trading stocks

Question 47

stock exchange

Answer 47

market for buying and selling stock

Question 48

frictional unemployment

Answer 48

whole trying to find a job

Question 49

seasonal unemployment

Answer 49

evaluate of harvest schedules or industries that shut down for the season

Question 50

structural unemployment

Answer 50

workers skills don’t made the jobs that are available

Question 51

cyclical unemployment

Answer 51

during economic downturns

Question 52

underemployed

Answer 52

being overqualified or working part time when you want to work full time

Question 53

inflation

Answer 53

general increases in prices

Question 54

inflation rate

Answer 54

percentage rate of change in price level over time

Question 55

wage-price spiral

Answer 55

rising wages cause higher and higher prices cause higher wage

Question 56

poverty threshold

Answer 56

income is insufficient to support a family or household

Question 57

food stamps

Answer 57

government issued coupons that recipients exchange for food

Question 58

enterprise zone

Answer 58

where companies can locate free of certain locally state and federal taxes