Chapter 9 Review

Typically, the demand is high but the supply is low for

• skilled workers

• unskilled workers

• semi-skilled workers

• professional workers

Equilibrium wage results from

• a shortage of labor

• a surplus of labor

• a fluctuating supply and demand of labor

• an equal supply and demand of labor

The wage at which the number of workers needed equals the number of workers available is called

• the equilibrium wage

• the minimum wage

• the fair wage

• the balanced wage

Contingent workers is a term used for

• temporary workers

• tertiary workers

• permanent workers

• full-time workers

An organization of workers that seeks to improve working conditions is called a(n)

• open union

• skill union

• closed union

• labor union

Wage rates are determined by

• the number of available workers

• the unemployment rate

• the number of available jobs

• supply and demand

The government's power to intervene if a strike threatened national security was increased by the

• Taft-Hartley Act

• Wagner Act

• Landrum-Griffin Act

• Fair Labor Standards Act

Since the 1950s, the number of women in the U.S. workforce has

• increased slightly

• increased by a large number

• decreased by a large number

• decreased slightly

Since the 1950s, the storage and transfer of information has been greatly changed by

• computers

• the postal service

• libraries

• airplanes

Workers with higher amounts of human capital tend to

• have fewer job complaints

• earn lower wages

• earn higher wages

• demand less benefits