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Economics Chapter 8 Review

AB
Define labor force16 yrs. or older and working or looking for work.
Describe trends in union membership.Has decreased. Is now 12.3% of all hourly workers in U.S.
strikerefusal of union members to work
boycottunion members not buying from a company whose workers are on strike
picket linesstriking workers demonstrating to sway public opinion in a strike
lockoutmanagement will not let unhappy union workers into the workplace
scabsreplacement workers for striking union members
blacklista list of union members who are fired or treated unfairly because of their union membership
Sherman Antitrust ActFirst piece of legislation regarding unions. Pro management.
Clayton Antitrust ActPro union, but had very little power.
National Labor Relations Act and Fair Labor Standards Act1. Unions negotiation for workers 2. minimum wages 3. overtime pay 4. child labor laws
Taft-Hartley ActPro management. Prevented closed shops...cannot require union membership as condition for being hired.
AFL-CIOAmerican Federation of Labor - Craft Unions - Samuel Gompers. Congress of Industrial Organizations - non skilled unions - John L. Lewis
Union stewarda union member who is the "go between'. A union member who has a complaint would talk to the steward who would talk to management.
Worker rights protected by a union.1. job security 2. fringe benefits 3. working conditions
Reasons why unions have lost influence.1. featherbedding (keeping unproductive jobs) 2. high union wages make us uncompetitive with cheap foreign labor.
union shopnot required to join a union upon being hired, but must join after a certain period of time
open shopnot required to join a union
agency shopnot required to join a union, but must pay a fee to help with the costs of negotiating
crowding out effectwhen minimum wage increases, oldsters reenter the workforce and take jobs away from teens.
Wages of skilled workersDraw the graph demonstrating the high inelastic demand and limited supply of workers with skills. Show the high price (wage) of labor and the small quantity of these workers.
Wages of unskilled workersDraw a graph showing the low elastic demand and large supply of these workers. Show the low price (wage) and high quantity of these workers.
downsizingcompany fires an experienced worker to cut expenses.
One union that is not a part of the AFL-CIOthe truck drivers...Teamsters Union

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