Market Economics Chapter 8 Quiz

Apple picking and mopping would fall under this labor category:

• Unskilled Labor

• Semi-Skilled Labor

• Skilled Labor

• Professional Labor

A dish washer or a retail associate would fall under this labor category:

• Unskilled Labor

• Semi-Skilled Labor

• Skilled Labor

• Professional Labor

A construction worker or mechanic would fall under this labor category:

• Unskilled Labor

• Semi-Skilled Labor

• Skilled Labor

• Professional Labor

A doctor or lawyer would fall under this labor category:

• Unskilled Labor

• Semi-Skilled Labor

• Skilled Labor

• Professional Labor

This wage theory states that supply and demand is what determines what a person makes:

• Traditional Theory of Wages

• Theory of Negotiated Wages

• Signaling Theory

• Equilibrium Wage Theory

This wage theory states that organized labor’s bargaining strength (unionized) is a factor that helps determine wages:

• Traditional Theory of Wages

• Theory of Negotiated Wages

• Signaling Theory

• Equilibrium Wage Theory

This wage theory states that a person’s certificates, diplomas, degrees, etc will determine a person’s wage:

• Traditional Theory of Wages

• Theory of Negotiated Wages

• Signaling Theory

• Equilibrium Wage Theory

A negotiated contract between union representatives and employers about employee grievances:

• Collective Bargaining

• Grievance Contract

• Declaration of Grievances

• Union Contract

A union comprised of a group of people who perform the same kind of work is known as a(n):

• Industrial Union

• Craft/Trade Union

• White Collar Union

• General Union

A union comprised of a group of people who work in the same industry regardless of the job they perform is known as a(n):

• Industrial Union

• General Union

• Craft/Trade Union

• White Collar Union