Econ Ch 8 Guided Reading pt. 1

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  1. What is macroeconomics?
    Deals with economy as a whole, including employment, gross domestic product, inflation, economic growth, and distribution of income
  2. Which workers are not counted as being part of the civilian force?
    Members of armed forces, prison population, and other institutionalized persons
  3. How do a trade union and an industrial union differ?
    In a Trade Union, skilled workers perform SAME jobs. In an Industrial Union, same industry regardless of the job each worker performs
  4. What actions could unions take if negotiations with industry employers failed? Explain each one.
    • Strike - Refuse to work until certain demands were met.
    • Boycott - Mass refusal to buy products from targeted employers or companies.
  5. What actions could employers take in their fight against unions? Explain each one.
    • Lockout - Refusal to let the employees work until management demands were met.
    • Company Union - Union organized, supported or run by employers to head off efforts by others to organize workers
  6. How did the Clayton Antitrust Act help labor unions?
    Exempts labor union from prosecution under Sherman Act
  7. What did the National Labor Relations Act (NLRA) of 1935 do for unions
    Established the right of unions to collective bargaining.
  8. What did the Fair Labor Standards Act of 1938 do for labor?
    Fixed federal minimum wage, time-and-a-half pay for overtime, prohibits oppressive child labor(child labor under 16 and hazardous health under 18)
  9. How did the Taft-Hartley Act of 1947 affect labor?
    Puts limits on what union can do in labor-management disputes. Created 80-day cooling-off period and right-to-work law. Against organized labor.
  10. What is the main purpose of organized labor?
    Effectively deal with management
  11. What effext did the Taft-Hartley Act have on the closed shop?
    Made closed shops illegal for companies involved in interstate commerce
  12. What is a Union Shop?
    Employment situation that requires workers to join a union upon being hired
  13. What happens if workers coluntarily join the union?
    They must remain members for as long as they work
  14. What effect does a contract negotiated by the union have on nonunion workers in an agency shop?
    They are subject to the contract
  15. What happens in collective bargaining?
    Representatives from both sides meet and compromises are made
  16. What is the goal of mediation?
    Resolve Differences
  17. What is the difference between arbitration and meditation?
    3rd party in meditation just helps. but In Arbitration, his decision is FINAL.
  18. What is fact-finding?
    Agreement between union and management to have a 3rd party interfere
  19. What is the purpose of a government seizure?
    Allows government to negotiate with union
  20. What can the president of the US do to end labor dispute?
    Publicly appeal to both parties
Card Set
Econ Ch 8 Guided Reading pt. 1
Guided Reading Econ ch 8
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