Economics Flashcard

Front

Which of the following is a wage, fringe benefit, or work rule surrendered when renegotiating a contract? Options: base year, current dollars, giveback, glass ceiling

Back

giveback

Front

What is an organizational barrier to the advancement of women and minorities?

Back

glass ceiling

Front

What is the least that can be legally paid to most workers?

Back

minimum wage

Front

What is a measure of an item’s price which is not adjusted for inflation?

Back

current dollars

Front

What is the point of comparison in a price index?

Back

base year

Front

Which cause of the wage gap between men and women was addressed by the Equal Pay Act of 1963? Options: discrimination, differences in educational level, differences in levels of experience, gender distribution among occupations

Back

discrimination

Front

Which of the following partially explains the current decline in union influence?

Back

the increase in the number of women and teenagers in the workforce

Front

How does inflation affect the minimum wage?

Back

It decreases the buying power of the wage.

Front

In which country do workers produce the most per hour on the job? Options: China, Norway, South Korea, United States

Back

Norway

Front

Which of the following is an accurate statement about minimum wage laws in the United States? Options: The minimum wage is adjusted by law every five years, The minimum wage is the same in all parts of the country, Some states have established a lower-than-federal minimum wage, Some states have established a higher-than-federal minimum wage.

Back

Some states have established a higher-than-federal minimum wage.