Chapter 9 The Role of Labor (Econ)

The value of the goods or services that a laborer can produce in a set amount of time.

• Labor Productivity

• Wages

• Production

• Strike

What is the price for labor?

• labor productivity

• human capital

• value

• wage

Who is a part of the civilian labor force?

• people in the military

• people 16 or older who are employed or seeking employment

• people in prison

• people in institutions

The process of negotiations between businesses and their organized employees.

• binding arbitration

• labor laws

• collective bargaining

• union shop

These were meant to emphasize that workers are free not to join a union.

• closed shops

• collective bargaining

• union shops

• right-to-work-laws

A business required to hire only union members has a ____.

• labor union

• closed shop

• strike

• open shop

The practice of doing office work in a location other than the traditional office.

• telecommuting

• globalization

• independent contractor

• contingent employment

The practice of foreign companies establishing operations in, and therefore bringing jobs to the United States is known as ___________.

• marketing

• collective bargaining

• insourcing

• outsourcing

The practice of contracting with an outside company to provide goods or services is known as _________.

• insourcing

• human capital

• labor productivity

• outsourcing

What describes an unseen barrier to advancement?

• glass ceiling

• labor productivity

• price floor

• labor unions