Categories of Labor
Wages
Unemployment
Kinds of Unemployment
Misc.
100
Based upon level and knowledge of skills needed
What is the definition of categories of labor?
100
Standard amount of pay given for work performed
What is the wage rate?
100
7.8
What is America's unemployment rate?
100
Structural Unemployment
What is the kind of unemployment that occurs when fundamental changes in the economy reduces the demand for workers and their skills?
100
higher
Union members typically get ______ salaries
200
Skilled labor
Which labor allows workers to be able to operate complex equipment with little supervision?
200
Traditional Theory, Negotiated Wages Theory, Signaling Theory
What are the three methods when determining wages?
200
business
Unemployment rate is difficult to maintain because of the _________ cycle
200
Unemployment caused when workers who are between jobs for one reason or another
What is Frictional Unemployment?
200
Traditional Theory
What is the Theory that supply and demand for a worker's services determine the wage?
300
The highest level of knowledge based on education and managerial skills
What is the Professional Labor?
300
Equilibrium Wage Rate
What leaves neither a surplus or shortage in the labor market?
300
recession
Unemployment may include up to 1 million people per ______.
300
Seasonal Unemployment
What is the unemployment resulting in changes in the weather or changes in demand for certain products?
300
An organized labor that has bargaining strength, which is a factor that helps determine wages
What is the Negotiated Wages Theory?
400
Semi skilled labor
What labor allows enough skill to operate machines that require little training?
400
Seniority
What allows workers to receive higher wages than others for similar tasks?
400
8.3
What is Indiana's Unemployment Rate?
400
Unemployment that occurs when workers with less skills, talet, or education are replaced by machines
What is Technological Unemployment?
400
Ability of workers to relocate to markets with higher wages
What is labor mobility?
500
fast food restraunts, janitors
What is an examples of unskilled labor?
500
Labor Mobility, Cost of Living, Location
What are the three factors when determining Regional Wage?
500
number of people unemployed / number of people in civilian labor force
What is the equation when determining the unemployment rate?
500
Cyclical Unemployment
What is the Unemployment that is directly related to swings in the business cycle?
500
Noncompeting labor grades
What is the category of labor that do not compete with one another because of experience, training or education?
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