Inflation
Define inflation
What is a general increase in prices and fall in the purchasing value of money?
What is a labor union?
What is a union of workers that commonly fight for better wages, working conditions and shorter days.
What is the peak of a business cycle
What is the highest point of the business cycle and brings in great profit for the company
productivity and its role in inflation
What is productivity’s role in inflation is a big one if productivity is low then goods from that country will become more expensive there inflating their prices but if another nation has good productivity the price of goods from that nation will probably be cheaper?
What is collective bargaining?
What is a way for employers and employees to come to a written agreement to solve problems?
What are some major labor law
Name at at least 3, Name more for 50 points for each one
40-hour work week
No child labor
Pay for overtime
Sick days
Safe working conditions
Define money supply and its role in inflation
What is inflation happens when the money supply grows too big relative to the size of an economy?
OR
What is the unit value of the currency goes down and less value this causes things to rise and fall?
What is expatiation
What is when real gross domestic product grows for 2 or more quarters of the year which usually brings more employment. Also referred to as economic recovery?
What is repression
What is when the company starts to make less money lasting multiple months and some indicators are in production and employment for the company?
Define productivity
What is productivity is the amount the workers get done per hour?
What is triangle shirtwaist fire
What is a fire that killed 146 workers, because they were locked in the building?
What is trough?
What is a period marking the end of declining business activity and the transition to expansion starting the cycle over again?
What is american socialist party
What is a group that fought for better working conditions?