Chapter+9+Work

9.1 Take notes on pg 211-217...answer questions #1-5 It freaked out yesterday 9.2 Vocab and Main ideas
 * Derived demand: set by demand for what a worker produces
 * Productivity: the value of output which is in this example is the cost of a meal
 * Equilibrium wage: the wage rate that produces neither an excess supply of workers nor an excess demand for workers in the labor market
 * Unskilled labor: no specialized skills, education, or training
 * Semi-skilled labor: requires minimal specialized skills and education
 * Skilled labor: specialized abilities and training to do tasks such as operating complicated equipment
 * Professional labor: advanced skills and education
 * Featherbedding: negotiating labor contracts that keep unnecessary workers on the company payroll
 * There are different levels of jobs and on each level there are specific skills and education needed to work on that level.
 * Wage discrimination is based on gender, race, or other factors that are not related to skill or productivity.
 * There are other factors that affect wages such as minimum wage laws, unions, and safety laws.
 * 1) Which of the following affect wages? A) economy B) Gojirra C) safety laws D) demand (C)
 * 2) Because paul doesnt work as much as other workers his wage is cut, this is an example of wage discrimination. T or F (F)
 * 3) Semi-skilled labor requires specialized abilities and training to complete the job. T or F (F)
 * 4) Skilled labor requires which training? A) minimal B specialized C Advanced (B)
 * 5) Equilibrium wage is the wage rate that produces an excess supply of workers and an excess demand for workers. T or F (F)
 * 6) An example of Derived demand is demand for labor T or F (T)
 * 7) Employment in a labor market does not depend on how closely the demand for workers are available to jobs T or F (F)
 * 8) In a market equilibrium the quantity of a good supplied will not equal the quantity demanded T or F (F)
 * 9) The supply of labor comes from people who provide labor in exchange for wages. T of F (T)
 * 10) Dangerous jobs have lower equilibrium wage rates T or F (F)

9.3 Read and take notes.. Answer questions #1-7, 9-17 on pg 236


 * 1) Arbitration
 * 2) screening effect
 * 3) strike
 * 4) labor force
 * 5) glass ceiling
 * 6) equilibrium wage
 * 7) contingent employment
 * 8) all nonmilitary people that are employed or unemployed
 * 9) A labor union is an organization of workers that tries to improve working conditions wages and benefits
 * 10) collective barganing is when lawyers fight to get benefits for their union members
 * 11) The equilibrium wage is a wage rate that depends on the number of workers
 * 12) Because we import more than we export and we dont really have a lot of goods to send around the world
 * 13) If wages are high then the demand for labor will go up because people want the job and stuff.
 * 14) If your a women or a minoriity *cough wallmart* your wages are lower than those classified as the superior race.
 * 15) The higher your education the more money you will get because your are more educated
 * 16) If we have machines on assembly lines more frequently then the workers there will fall and become unemployed only worsening the unmployment problem
 * 1) If we have machines on assembly lines more frequently then the workers there will fall and become unemployed only worsening the unmployment problem