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Brown-economics

key terms set 2

TermDefinition
strike an organized work stoppage intended to force an employer to address union demands
skilled labor workers who require specialized training and skills
equilibrium wage the wage rate that gives neither an excess supply of workers nor an excess demand for workers
arbitration a settlement technique in which a third party reviews the case and makes a decision that is legally binding for both sides
contingent employment temporary or part-time employment
screening effect the theory that the completion of college indicates to employers that a job applicant is intelligent and hard-working
productivity the value of a worker's output
featherbedding the practice of negotiating labor contracts that keep unnecessary workers on a company's payroll
Created by: privard
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