Unit Three Lesson Ten Economics

Policies designed to promote the hiring of individuals from groups that have historically faced job discrimination

• Decisive action

• Wage gap

• Fringe benefits

• Affirmative action

Negotiations between an employer and a group of employees, usually represented by a labor union

• Labor bargaining

• Collective bargaining

• Equilibrium wage

• Offshore bargaining

The rate of pay that results in neither a surplus nor a shortage of labor

• Equilibrium wage

• Collective wages

• Wage gap

• Labor wage

Nonwage compensations offered to workers in addition to pay; examples include health care and vacation benefits

• Labor benefits

• Right-to-work law

• Labor laws

• Fringe benefits

The portion of the population that has paid work or is seeking work

• Affirmative action

• Labor force

• Wage gap

• Labor laws

Relocating work and jobs to another country; the opposite of inshoring

• Inshoring

• Labor Force

• Offshoring

• Wage gap

Right-to-work laws in many states prohibit employers from:

• Laying off workers when business slows down

• Making prior experience a condition of employment

• Promoting only high-performing employees

• Requiring workers to join a labor union

A difference in the wages earned by various groups in society, such as between men and women

• Wage gap

• Labor gap

• Offshoring

• Corporation

Who is included in the labor force?

• A homemaker volunteering at an animal shelter

• A 30 year-old serving in the air force

• A laid-off carpenter looking for a job

• A prison inmate waiting to be released

An example of a knowledge worker is a

• Lifeguard who knows CPR

• Lawyer who creates contracts

• Temporary worker who stocks shelves

• Cashier who handles money