| A | B |
|---|
| macroeconomics | The study of the economy as a whole |
| craft union | An association of skilled workers |
| industrial union | An association of all workers in the same business |
| strike | Workers refuse to work |
| picket | Workers protesting at a job site |
| boycott | Mass refusal to buy a certain good |
| AFL-CIO | American Federation of Labor-Congress of Industrial Organizations |
| closed shop | Employer agrees to hire only union members |
| union shop | Employees must join the union after being hired |
| agency shop | Employees must pay a union fee but need not join |
| mediation | Using a neutral third person to settle a dispute |
| arbitration | A third person's decision is final |
| fact-finding | Using a third person to gather information |
| injunction | A court order not to act |
| unskilled labor | Workers who lack specific training for other jobs |
| semiskilled labor | Workers with a minimum amount of training |
| skilled labor | Workers who operate complex equipment without supervision |
| professional labor | Doctors and lawyers |
| traditional theory of wages | Supply and demand for skills sets wages |
| negotiated wages theory | Collective bargaining sets wages |
