| A | B |
|---|
| Four kinds of union arrangements | closed shops, union shops, modified union shops, and agency shops |
| Six ways to resolve union and management differences | greivance procedures, arbitration, seizure, injunction, mediation, and fact-finding |
| Greviance Procedures | a provision for resolving issues that may come up later. |
| Mediation | the process of bringing in a neutral third person or persons to help settle a dispute |
| Arbitration | a process in which both sides agree to place their differences before a third party whose decision will be accepted as final. |
| Fact-finding | is an agreement between union and management to have a neutral third party collect facts about a dispute and present nonbinding recommendations (means that they may not stick) |
| Injunction | a court order not to act or do something. |
| Seizure | a temporary takeover of operations |
| In the first quarter of 1997, full-time U.S. workers in the bottom 10 percent of the wage range actually made an average of | $6.48 an hour |
| Minimum wage in 1997 was | $4.75 an hour |
| Sometimes people lack _______ to get ahead. | initiative |
| Traditional theory of wage determination | says that supply and demand together will determine the equilibrium wage rate (balance wage rate). |
| Theory of negotiated wages | uses organized labor's bargaining strength to explain wage differentiatials. |
| Signaling theory | employers are willing to pay more for those people with certain indicators of superior ability |
