Supply and Demand
This term states that as the price of a good increases, the willingness to buy the good decreases.
What is the Law of Demand?
This type of wage is far more common in part-time jobs.
What are hourly wages?
This person is put in charge of negotiations for the union.
Who is a union representative?
This method of taxation places the same percentage on everyone.
What is a proportional tax rate?
This term refers to a company extending their job opportunities abroad.
What is offshoring?
A luxury good vs a necessity might determine this characteristic about a product's demand.
What is elasticity?
This term refers to a potential gap between the incomes of two parties who do the same amount of work.
What is a wage gap?
This type of Union is comprised of multiple smaller unions.
What is a federation?
resource allocation, behavior adjustment and productivity and growth are ways in which ____ influence the economy.
What are taxes?
This refers to the act of one company hiring another company to do a task for them.
What is outsourcing?
This is the place where prices usually are set.
What is Equilibrium Price?
This theory indicates that wages are set differently for jobs that require more skill.
What is the theory of noncompeting categories of labor?
This man organized the Grape Boycott of 1965.
Who was César Chávez?
This type of tax puts taxes on goods that are considered socially undesirable.
What is sin tax?
This is a subdivision of offshoring, and refers to offshoring within a timezone or otherwise nearby.
What is nearshoring?
The demand curve is graphed on a chart that measures price and _____.
What is Quantity?
This theory tells us that wages are determined by level of schooling.
What is Signaling Theory?
Wages, time-off, benefits, working conditions and job protections are all negotiated in a ________.
What is a collective bargaining agreement?
This type of tax puts a higher percentage rate on individuals with a higher income.
Ford Motors offshores some of its manufacturing to this country.
What is China?
The Law of Supply states that the higher something is priced, the _____ of an item there is to buy.
What is More?
This place in the US has the highest minimum wage.
What is Washington D.C.?
In this year the world series was cancelled for the first time in 90 years.
What is 1994?
Social Security and Medicare would fall under this type of tax.
What are federal taxes?
While human labor costs may be one reason to offshore, another might be the cost of ____.
What is real estate?