Chapter+9+HW

9.1 Take notes on pg 211-217...answer questions #1-5 1. Labor Force is all nonmilitary people who are employed or unemployed. To be unemployed you must not have had a job for the last 4 weeks. To be employed you must have worked at least one hour for pay within the last week. 2.
 * Labor Force is known as all nonmilitary people who are unemployed or employed.
 * Their are many unemployed people in the U.S
 * College is getting harder to be accepted into
 * Prices all over the U.S are on the rise
 * Changing Economy
 * Changing of the Labor Force happens a lot Social Security starts at age 62 if you retire.
 * Learning effect- productivity and results in higher wages

9.2 Define all vocabulary...then write down the Main Ideas of the section. Make a 10 Questions quiz WITH ANSWERS


 * Derived demand-** demand for labor
 * Productivity**- is the value of output
 * equilibrium wage**- the wage rate that produces neither an excess supply of workers in the labor market.
 * unskilled labor**- labor that needs no specialized skills education, or training.
 * semi skilled labor**- requires minimal specialized skills and education.
 * skilled labo**r-nrequires specialized abilities and training to do tasks such as operating complicated equipment.
 * professional labor**- demands advanced skills and education.
 * glass ceiling**- an unofficial, invisible barrier that prevents women and minorities from advancing in business dominated by white men.
 * labor union**- an organization of workers that tries to improve working conditions.
 * Featherbedding**- the practice of negotiating labor contracts that keep unnecessary workers on a company's payroll.

9.3 Read and take notes.. Answer questions #1-7, 9-17 on pg 236 1. arbitration 2. learning effect 3. strike 4. labor force 5. glass ceiling 6. equilibrium wage 7. contingent employment

9. The govt. includes all nonmilitary people who are employed or unemployed. 10. A labor union is an organization of workers that tries to improve working conditions, wages, and benefits for its members 11. Collective bargaining is a meeting of labor .union and and company representative to negotiate a new labor contract. 12. The equilibrium wage is high for some workers and low for others based on ability required for the work. 13. The us is producing fewer goods and more services because of the advances in technology. 14. Wage increases make demand for work go up. 15. The more "not white male" a person is, the less money they make in the job industry. 16. The more education a person receives, the more they make over the course of their lives (in general). 17. Technological advances can replace workers. like think about a computer that can take a voice recording of a meeting. that replaces a secretary's role in a meeting.