Unit 4 Chapter 9

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 indicates to employers that a job applicant is intelligent and hardworking

Question 4

contingent employment

Answer 4

a temporary or part-time job

Question 5

productivity

Answer 5

value of output

Question 6

equilibrium wage

Answer 6

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

Question 7

unskilled labor

Answer 7

labor that requires no specialized skills, education, or training

Question 8

semi-skilled labor

Answer 8

labor that requires minimal specialized skills and education

Question 9

skilled labor

Answer 9

labor that requires specialized skills and training

Question 10

professional labor

Answer 10

labor that requires advanced skills and education

Question 11

glass ceiling

Answer 11

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

Question 12

labor union

Answer 12

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

Question 13

featherbedding

Answer 13

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

Question 14

strike

Answer 14

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

Question 15

right-to-work law

Answer 15

a measure that bans mandatory union membership

Question 16

blue-collar worker

Answer 16

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

Question 17

white-collar worker

Answer 17

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

Question 18

collective bargaining

Answer 18

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

Question 19

mediation

Answer 19

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

Question 20

arbitration

Answer 20

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

Question 21

frictional unemployment

Answer 21

unemployment that occurs when people take time to find a job

Question 22

seasonal unemployment

Answer 22

unemployment that occurs as a result of harvest schedules or vacations, or when industries slow or shut down for a season

Question 23

structural unemployment

Answer 23

unemployment that occurs when workers’ skills do not match the jobs that are available

Question 24

cyclical unemployment

Answer 24

unemployment that rises during economic downturns and falls when the economy improves

Question 25

census

Answer 25

an official count of the population

Question 26

unemployment rate

Answer 26

the percentage of the nation’s labor force that is unemployed

Question 27

full employment

Answer 27

the level of employment reached when there is no cyclical unemployment

Question 28

underemployment

Answer 28

working at a job for which one is overqualified, or working part-time when full-time work is desired

Question 29

discouraged worker

Answer 29

a person who wants a job but has given up looking