Ch. 9 Study Guide

1. What is it called when a union and management negotiate a labor contract?
2. How are strikes damaging to workers and companies?
3. How are wages for a particular job determined?
4. What are the results of increased worker productivity?
5. If roofing skills are scarce in California, what effect might that have on wages?
6. What generally happens to the equilibrium wage when demand for worker is low and supply is high?
7. What were the major steps in the United State’s progression from an agricultural economy to a service economy?
8. If you gain human capital, what effect might that have on your wages, and why?
9. Give two possible reasons for the increased presence of women in the labor force.
10. Look at the chart on pg. 233. Why might wages for workers in retail be much lower than those for workers in construction?

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