Labor (Economics)

True or False: Military members are counted in the labor force.

• True

• False

What is defined as an "all nonmilitary people of working age (16+) who are employed or unemployed?"

• Civilian Force

• Military Force

• Union Force

• Labor Force

A fixed annual income divided and paid weekly, biweekly, and monthly is called...?

• Wage

• Salary & Wage

• Hourly Wage

• Compensation

A fixed price per 60 minutes multiplied by time worked to be paid weekly, biweekly, and monthly is called...?

• Wage

• Salary & Wage

• Hourly Wage

• Compensation

A person who is paid hourly AND is NOT specialized would be considered part of the ...?

• Unskilled Labor

• Skilled Labor

• Semi-Skilled Labor

• Professional Labor

A person who is paid hourly AND has specialized abilities and training is considered a part of...

• Unskilled Labor

• Skilled Labor

• Semi-Skilled Labor

• Professional Labor

A person who is paid hour AND has minimal specialized skills and education is considered a part of...?

• Unskilled Labor

• Skilled Labor

• Semi-Skilled Labor

• Professional Labor

True or False: Labor Unions are organizations of workers in a specific field.

• True

• False

What is an organized work stoppage to address labor demands?

• Strike

• Mediation

• Arbitration

• Collective Barganining

What it is called when a neutral person meets with both sides to find a variable solution?

• Strike

• Mediation

• Arbitration

• Collective Bargaining