Economics - Chapter 9 Review

A government program that regulates unfair hiring practices is called

• set-aside contract
• seizure
• fact finding
• union shop

Price measures that have been adjusted for inflation

• real or constant dollars
• Civilian Labor Force
• fact-finding
• equilibrium wage rate

The idea that higher education often results in higher earnings

• negotiated wages
• wage determination
• fact finding
• signaling theory

Tactics used only by management

• lockout
• boycott
• picket
• negotiation

____________________ is responsible for increases in the federal minimum wage.

• inflation
• two-tiered wage system
• supply of labor
• demand of labor

Union membership is optional.

• collective bargaining
• injunction
• union shop
• modified union shop

_______________________ is the negotiation between union and management.

• equilibrium wage rate
• real or constant dollars
• injunction
• collective bargaining

First types on unions formed in the United States.

• craft and industrial unions
• craft and independent unions
• company and industrial unions
• company and independent unions

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 occupations
• differences in human capital
• discrimination
• all of these

The market theory of wage determination is

• A workers value in the labor market is determined primarily by that worker's seniority
• Management is more willing to pay a high wage to a worker with an advanced education
• Workers pay rates are set by supply and demand for workers skills
• Management tend to pay a lower wage to