Studied by 3 people
Strike
________: the organized withdrawal of labor from a firm by a union.
Unions
________ are a necessary antidote to the market power of the firms that hire workers.
High wages
________ may compensate more for workers productivity.
Sectoral shifts
________: changes in the composition of demand among industries or regions.
Labor earnings
________ are relied on to maintain a standard of living.
Frictional unemployment
________ is often caused by the labor demand.
B
When A is preferred over ________, A hires more workers and ________ lays off workers.
Labor force
________: the total number of workers, including both the employed and the unemployment.
Bureau of Labor Statistics
The ________ (BLS) measures unemployment.
Minimum wages
________ are not the primary reason for unemployment, but they are still important.
Job search
________: the process by which workers find appropriate jobs given their tastes and skills.
quantity of labor
When a union raises the wage above the equilibrium level is the ________ supplied and reduces the ________ demanded.
Unemployment insurance reduces
________ search effort and raises unemployment.
Labor force
________= Number of employment + Number of unemployed.
Labor force
________ participation rate: the percentage of the adult population that is in the ________.
Note
Flashcard